Vietnam: Forestry exports reach US$16.9bn in 2022

Wooden products and timber materials reached about $15.85bn worth of exports in 2022

According to the Vietnam Administration of Forestry, forestry exports in 2022, which include timber and wood products, are estimated at over US$16.9bn, up 6.1% from 2021.

VietnamPlus reported that this value included about $15.85bn worth of timber and wood products, rising by 7%, and $1.1bn worth of non-timber products, falling by 1.3%.

The US, Japan, China, the EU, and South Korea were the main markets, purchasing $15.48bn worth of forestry products from Vietnam, equivalent to over 90% of the total.

Exports have been increasing in spite of global crises, such as the Russia-Ukraine war and COVID-19 pandemic, because of the Vietnamese government’s directions, ministries and sectors’ moves, and businesses’ efforts to surmount difficulties.

Imports for timber and wood products into Vietnam increased by 4.1% to $2.82bn.

These resulted in a trade surplus of $14.1bn, up 6.5% from 2021.

The forestry industry plans to achieve $17.5bn worth of forestry exports in 2023, a growth rate of 5-5.5% in forestry production value.

Source: VietnamPlus