Business

Wood sector regaining footing as orders turn around

Many wood businesses have received orders for the remaining months of this year after the protracted logjam, sending rosy signs to the domestic timber industry.
Wood sector regaining footing as orders turn around ảnh 1Many wood businesses have received orders for the remaining months of this year. (Photo: VNA)
Hanoi (VNA) – Many wood businesses havereceived orders for the remaining months of this year after the protractedlogjam, sending rosy signs to the domestic timber industry.

The Agency of Foreign Trade under the Ministry ofIndustry and Trade (MoIT) reported that the export value of wood and woodproducts reached about 1.2 billion USD last month, down 7% from August, but up6.7% against the same period last year.

The agency raised a bullish outlook for the sectorin the last months based on the positive developments of the housing market,and the increasing demand for interior design for the new year.

Vice Chairman of the Handicraft and Wood IndustryAssociation of Ho Chi Minh City (HAWA) Nguyen Chanh Phuong said the industryhas seen signs of improvements since May, and forecast that the revenue willhit about 14-14.5 billion USD in the year.
Wood sector regaining footing as orders turn around ảnh 2Export value of wood and wood products reaches about 1.2 billion USD last month. (Photo: VNA)
D’Furni JSC said order books are full until thefirst quarter of 2024, adding its branches in North America have worked tomaintain orders from traditional customers while expanding cooperation throughbig projects.

Tran Hoai Huu, Director of Gia Nhien Co., Ltd., saidafter a period of freeze, export orders have turned around, many of them fromPoland, the Netherlands, Germany, Croatia and Italy, among others.

However, high input costs have remained a headachefor many businesses, leading to no significant improvements in revenue.Besides, the ongoing conflicts with no signs of cooling down have also impactedthe recovery of the industry./.
VNA
#wood businesses #Ministry of Industry and Trade #Agency of Foreign Trade #Handicraft and Wood Industry Association of Ho Chi Minh City #Vietnam #VientamPlus #Vietnam news
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