Wood exports reach over $2.5 billion

Wood exports reach over $2.5 billion

The US is currently the largest consumer market for Việt Nam’s wood and wood products.

Workers at a wood factory in the southern province of Bình Dương prepare wood for export. — VNA/VNS Photo Hồng Nhung

Việt Nam’s wood and wood product exports reached over US$2.5 billion in the first two months of the year, statistics from the Ministry of Agriculture and Environment showed.

This marks a 12.4 per cent increase, equivalent to $280 million, compared to the same period last year.

The US is the largest consumer market for Việt Nam’s wood and wood products during this period, accounting for 55 per cent of the total export value.

Recent import orders from this market have increased steadily, with many businesses having received orders through the end of the year.

The second and third-largest markets for wood exports are Japan and China, accounting for 11.7 and 9.8 per cent of the total export value, respectively.

However, despite these positive numbers, experts said challenges await Việt Nam’s wood industry due to the increasingly tightening regulations on wood origin control from the import markets.

Vietnamese wood producers would need to show proof that their production is legal, that it mitigates deforestation, promotes green production and reduces greenhouse gas emissions, they said.

The growing complexity of trade competition also poses a considerable challenge for Việt Nam’s wood exports.

To ensure sustainable development, apart from complying with regulations and standards on origin and the environment, the wood industry must focus on investing in design, creativity and enhancing product value to meet the increasingly high demands of international markets.

Việt Nam’s wood and wood products are currently exported to over 160 countries and territories.

Over the past ten years, the Vietnamese wood industry has grown rapidly to become the seventh largest producer of wood and wood products in the world, and the second-largest exporter globally. 

Bizhub