Vietnam
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Vietnam’s wood exports forecast to hit record of 18 billion USD this year
The export turnover of Vietnamese wood and wood products is expected to set a record high of 18 billion USD in 2023, with wood pellets and woodchips forecast to enter the one-billion USD club. President of the Vietnam Timber & Forest Products Association (Viforest) Do Xuan Lap said that the figure will represent a growth rate of 7-9%. To that end, the industry will focus on raising the competitiveness of enterprises by reducing the use of imported wood, applying science and technology in improving labour productivity, and stepping up digital transformation to cut production costs. In fact, in the fourth quarter of 2022, the number of orders decreased, and the gloomy atmosphere may linger on until the end of the first quarter of 2023. However, most of businesses believe that the situation may begin brightening from the second quarter. Pellets and woodchips are also... Continue reading
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October 31, 2022
Vietnam’s wood trade under pressure due to logging, Ukraine war
Reputational risks are piling up for a Vietnamese lumber industry already beset by a falloff in demand from the heights of the pandemic. One of the world's biggest wood and furniture exporters, Vietnam enjoyed a surge in orders when overseas buyers spent COVID lockdowns renovating their home offices and kitchens. But the Southeast Asian country faces accusations of importing Chinese goods for re-export with "Made in Vietnam" labels since the onset of the China-U.S. tariff war in 2018. Now an actual war in Ukraine is stoking concern that sanctioned products from Russia may be routed through Vietnam, which maintains a neutral stance on the conflict between Kyiv and Moscow, as it does with Beijing and Washington. A third concern, about logging of fuel wood, has added to the pressure. The U.S. branch of the nonprofit Environmental Investigation Agency (EIA) says Western sanctions over... Continue reading
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September 12, 2022
Vietnamese timber exporters struggle to find new markets
Contrary to full orders at the beginning of the year, Vietnamese wood and wooden furniture enterprises are currently facing many difficulties due to the cancellation of orders by customers because of inflation in countries such as the US and the EU and the sharp increase in input material costs. In fact, Vietnam’s wood industry is seeing declining sales overseas. The export value in July was estimated at 1.41 billion USD, down 5.5% against June and down 1.6% year-on-year, according to a report of the General Department of Forestry under the Ministry of Agriculture and Rural Development (MARD). This was the second month that the export of wood and timber products decelerated. Earlier, figures from the General Department of Customs showed the export turnover of wood and wood products in June was down nearly 11% year-on-year. Through the first seven months of the year, wood and wood... Continue reading
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January 17, 2023
Vietnam’s wood exports forecast to hit record of 18 billion USD this year
The export turnover of Vietnamese wood and wood products is expected to set a record high of 18 billion USD in 2023, with wood pellets and woodchips forecast to enter the one-billion USD club. President of the Vietnam Timber & Forest Products Association (Viforest) Do Xuan Lap said that the figure will represent a growth rate of 7-9%. To that end, the industry will focus on raising the competitiveness of enterprises by reducing the use of imported wood, applying science and technology in improving labour productivity, and stepping up digital transformation to cut production costs. In fact, in the fourth quarter of 2022, the number of orders decreased, and the gloomy atmosphere may linger on until the end of the first quarter of 2023. However, most of businesses believe that the situation may begin brightening from the second quarter. Pellets and woodchips are also... Continue reading
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October 31, 2022
Vietnam’s wood trade under pressure due to logging, Ukraine war
Reputational risks are piling up for a Vietnamese lumber industry already beset by a falloff in demand from the heights of the pandemic. One of the world's biggest wood and furniture exporters, Vietnam enjoyed a surge in orders when overseas buyers spent COVID lockdowns renovating their home offices and kitchens. But the Southeast Asian country faces accusations of importing Chinese goods for re-export with "Made in Vietnam" labels since the onset of the China-U.S. tariff war in 2018. Now an actual war in Ukraine is stoking concern that sanctioned products from Russia may be routed through Vietnam, which maintains a neutral stance on the conflict between Kyiv and Moscow, as it does with Beijing and Washington. A third concern, about logging of fuel wood, has added to the pressure. The U.S. branch of the nonprofit Environmental Investigation Agency (EIA) says Western sanctions over... Continue reading
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February 16, 2022
Vietnamese wood product exports are expected to grow in 2022
Vietnamese wood and furniture products are expected to grow in 2022 due to the purchasing demand of the international market along with meeting necessary factors in Free Trade Agreements (FTAs). Despite experiencing a difficult year last year after being heavily affected by the pandemic, the country’s exports of timber and non-timber forest products in 2021 was predicted to reach US$15.6 billion, up by 18 per cent compared to 2020. In which, the exports of wood and products reached $14.5 billion, up by 17.2 per cent compared to 2020. Vietnam’s timber and forest products are exported to over 140 countries and territories, of which the main markets are the US, Japan, China, EU and South Korea with a total export value estimated at $13.98 billion, accounting for 89.5 per cent of the country's export value of forest products. The move will provide great momentum for the... Continue reading
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February 16, 2022
Vietnamese wood product exports are expected to grow in 2022
Vietnamese wood and furniture products are expected to grow in 2022 due to the purchasing demand of the international market along with meeting necessary factors in Free Trade Agreements (FTAs). Despite experiencing a difficult year last year after being heavily affected by the pandemic, the country’s exports of timber and non-timber forest products in 2021 was predicted to reach US$15.6 billion, up by 18 per cent compared to 2020. In which, the exports of wood and products reached $14.5 billion, up by 17.2 per cent compared to 2020. Vietnam’s timber and forest products are exported to over 140 countries and territories, of which the main markets are the US, Japan, China, EU and South Korea with a total export value estimated at $13.98 billion, accounting for 89.5 per cent of the country's export value of forest products. The move will provide great momentum for the... Continue reading
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January 17, 2023
Vietnam’s wood exports forecast to hit record of 18 billion USD this year
The export turnover of Vietnamese wood and wood products is expected to set a record high of 18 billion USD in 2023, with wood pellets and woodchips forecast to enter the one-billion USD club. President of the Vietnam Timber & Forest Products Association (Viforest) Do Xuan Lap said that the figure will represent a growth rate of 7-9%. To that end, the industry will focus on raising the competitiveness of enterprises by reducing the use of imported wood, applying science and technology in improving labour productivity, and stepping up digital transformation to cut production costs. In fact, in the fourth quarter of 2022, the number of orders decreased, and the gloomy atmosphere may linger on until the end of the first quarter of 2023. However, most of businesses believe that the situation may begin brightening from the second quarter. Pellets and woodchips are also... Continue reading