Estimated export value wood and wood products in the first 4 months of 2022 is 5.48 billion USD, up 4.5% over the same period in 2021. The United States, Japan and China are the three Vietnam’s largest import markets.
Statistics from the Ministry of Agriculture and Rural Development show that the export value of wood and wood products in April 2022 is estimated at 1.5 billion USD, bringing the export value of wood and wood products to 4. in the first month of 2022 reached 5.48 billion USD, up 4.5% over the same period in 2021.
The United States, Japan and China are Vietnam’s largest import markets in the first three months of 2022 – accounting for 79.3% of the total export value. In the first 3 months of 2022, the export value of wood and wood products increased in most markets, except China (-0.7 percent) and Taiwan (-2.4 percent).
According to Binh Duong Woodworking Association (BIFA), wood products are considered to be the fastest-growing industry for production and export. Vietnam’s wood export industry strives to reach the export target of 18 billion USD in 2022, of which Binh Duong accounts for about 50% due to the convergence of many large enterprises.
Currently, the United States and Europe account for 80% of Vietnam’s export market share and there is still great room for development. Large enterprises in Vietnam still focus on the markets of wooden furniture exported to the European market (EU). Although the war between Russia and Ukraine is increasing day by day, along with the Covid-19 pandemic that has not yet ended, Vietnam’s wood industry still faces many difficulties in terms of export output.