According to Vietnam’s General Department of Customs, the country’s exports of wood and wood products in April 2022 are estimated at US$1.5 billion, up by 7.3% year-on-year, compared to April of 2021.
Exports of wood products alone in April 2022 are estimated at $1.13bn, up by 6.4% compared to April 2021.
In the first four months of 2022 there were five product groups with export values over $1bn, including wood and wood products, according to the Ministry of Agriculture and Rural Development.
The Vietnam Wood and Forest Products Association has indicated that the focus of exports is on high value-added items such as wooden chair frames, living and dining room furniture and bedroom furniture, reflecting Vietnam’s manufacturers’ strengths.
The timber industries still face many difficulties such as the prolonged COVID-19 infections and control measures which disrupted the flow of of workers, and Russia’s invasion of Ukraine. These issues have pushed up energy and fuel costs and impacted production costs.
In particular, the price of wood raw materials continues to rise but businesses have to maintain production to meet orders.
With the positive results achieved in the first few months of 2022, it is forecasted that Vietnam’s exports of wood and wood products in the first half of 2022 will increase by around 5-8%, compared to the same period of 2021.
Source: ITTO
