In 2020, despite the pandemic, exports of Vietnamese wood and wood products amounted to US$12.371b, a year-on-year growth of 16%, reported the International Tropical Timber Organization. Of this, the export of wood products was valued at US$9.535b, up 22.5% compared to 2019 and accounted for 77% of total wood and wood product exports. With this growth rate, wood and wood products steadily remain among the top six export commodity groups in Vietnam.
The United States (US) continued as the top destination for Vietnam’s wood and wood product exports. In 2020, these exports to the US reached US$7.166b, 34% higher than in 2019 and accounted for 58% of the total wood and wood product exports.
With the current momentum, export growth is forecast to expand 15% in 2021, generating US$14.0b provided no major export market uncertainties occur.
Source: ITTO Tropical Timber Market Report