Exporters of wood products need to have sustainable timber sources and use advanced technologies to reduce labour, a trade show heard in Ho Chi Minh City.
Vietnam's exports of timber and wood products have decreased due to the impact of high inflation in the export market, according to the Ministry of Industry and Trade.
Vietnam is set to grant a licence under the Voluntary Partnership Agreement/FAO-EU Forest Law Enforcement, Governance and Trade (FLEGT) Programme to wood exports in 2025, after it completes preparing necessary conditions, reported a government official familiar with the sector.
Vietnam’s exports of wood and wooden products are expected to rake in 18.5 billion USD in 2025 and 20.4 billion USD in 2030, per a project freshly approved by Deputy Prime Minister Le Van Thanh on March 10.
As the export of Vietnam’s timber and wooden products posted positive signs in the first two months of 2022, many firms are increasing capacity to meet the schedule of orders until the end of this year’s second quarter.
Exports of wood and timber products to the EU totalled 314 million USD in the first half of 2021, a 36.4 percent increase from the same period last year.
Wood products exports are expected to rise to a record 15-16 billion USD this year despite the impacts of the COVID-19 pandemic. They were worth 12.5 billion USD last year.
Exports of wood and timber products surged 42 percent year-on-year to reach a record high of over 6.42 billion USD in the first five months of 2021 despite global supply chain disruptions caused by the COVID-19 pandemic, according to customs data.
The export turnover of wood and wood products hit 4.99 billion USD in the first four months of 2021, a surge of 50.5 percent year-on-year, according to the Ministry of Agriculture and Rural development.
Business in the wood industry will have a chance to seek buyers and boost export during the Vietnam Furniture Matching Week 2021, scheduled to take place in Ho Chi Minh City from April 12 to 19.
Wood export turnover this year is expected to reach a record high of nearly 12.5 billion USD despite impacts of the COVID-19 pandemic as well as risks from export markets and the country’s policy changes in controlling the legality of imported wood materials.
The central province of Binh Dinh posted a 21 percent year-on-year increase in wood exports to 373 million USD during January-August despite disruption caused by the COVID-19 pandemic.
After a sharp fall due to adverse impacts of the COVID-19 pandemic, wood export revenue has seen signs of recovery since June thanks to exporters’ efforts to adapt to the situation.
After a sharp fall due to adverse impacts of the COVID-19 pandemic, wood export revenue has seen signs of recovery since June thanks to exporters’ efforts to adapt to the situation.
Wood and wooden product exports in the southern province of Binh Duong hit more than 1.7 billion USD in the first half of 2020, up 0.6 percent year-on-year and accounting for 14.5 percent of the local total export value of 11.9 billion USD.
Despite the COVID-19 pandemic’s impact, the wood industry still enjoyed 3.2 billion USD in exports in the first four months of 2019, up 6 percent year on year, thanks to businesses’ efforts to switch to online trading and find new markets.
Minister of Agriculture and Rural Development Nguyen Xuan Cuong has said that Vietnam is focusing on four measures to bolster wood and wooden product export growth this year.
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