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Vietnam is in the group of leading wood exporting countries in the world


According to data from the General Department of Customs, export turnover of timber and wood products in April 2024 reached USD 1.3 billion, an increase of 0.2% compared to March 2024 and an increase of 19.4% compared to April 2023. Of which, export turnover of wood products is estimated at USD 893 million, an increase of 0.7% compared to March 2024, and an increase of 14.1% compared to April 2023.

Accumulated over the first 4 months of 2024, exports of timber and wood products are estimated to reach USD 4.84 billion, an increase of 23.7% over the same period in 2023. Of which, the export turnover of wood products is estimated to reach USD 3.3 billion, an increase of 25.8% over the same period in 2023.

According to Ms. Nguyen Thi Cam Trang - Deputy Director of the Import-Export Department (Ministry of Industry and Trade), the favorable start in the first months of the year with the increase in the number of orders and wood industry enterprises accelerating production to keep up with export schedules has opened up opportnuties and hope to Vietnam's timber and wood industry.

In particular, demand in major markets such as the United States, China, Canada, the UK and markets in the EU, etc. is recovering, bringing optimism to Vietnam's wood exports.

Looking back at the "picture" of the wood industry in the first 4 months of the year, Mr. Ngo Sy Hoai - Vice President and General Secretary of the Vietnam Timber and Forest Products Association (VIFOREST) said that consumption of goods in many major markets such as the US and Europe is receiving gradually better signs, thereby promoting an increase in export orders, including timber and wood products.

According to the association, orders in the first quarter of 2024 are quite optimistic. Many businesses have received orders until June, and some businesses have even received orders until the end of 2024. Very different from 2023, 2024 started with the purchasing power of the world market warming and positive signals for timber industry.

Vietnam is in the group of countries with the world's leading wood export proportion. Vietnam's timber and wood industry has expanded export markets, penetrating deeper into important markets such as the US, EU, Korea Republic, Japan, and increasingly present in emerging markets such as UAE, India, etc.

"Consumption in major markets has recovered, with expectations that this industry will have the opportunity to accelerate exports in the immediate future in the second quarter and the whole year 2024," Mr. Hoai said.

Also according to Vice President of VIFOREST, with strengths in forestry development, business support policies and free trade agreements, Vietnam's exports of timber and wood products have achieved many successes in the international market. Vietnam's timber industry is well positioned to take advantage of strong demand from domestic and international markets. Businesses are investing in new technology and digital transformation to develop new products and services, improve competitiveness, increase efficiency and productivity.


Kylie Nguyen

© 2019 Vietnam Bank for Agriculture and Rural Development No. 2 Lang Ha street, Ba Dinh district, Hanoi, Vietnam
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