In 10 months of this year, the export turnover of the wood industry reached 13.2 billion USD, an increase of nearly 21% compared to the same period in 2023. The wood industry is aiming for 16 billion USD for the entire year, higher than the target of 14.2 billion USD set by the Ministry of Agriculture and Rural Development at the beginning of the year.
Wood and wood product exports aim for a target of 16 billion USD.
The US continues to be a major contributor to Vietnam’s wood export turnover, accounting for over 55% of the total turnover of the wood industry. This is also a market with high demand for both high-end and affordable products. It creates favorable conditions for small-scale enterprises to find market segments for their goods in the US market.
Mr. Do Xuan Lap, Chairman of the Vietnam Timber and Forest Products Association, shared that along with the gradually increasing market demand, in parallel with seeking customers, enterprises need to proactively switch to environmentally friendly materials and recycled materials, which are both cost-effective and meet new customer requirements.
“Not building a good market will greatly affect export sales, especially in promoting and connecting the market.” Organizing trade fairs creates business opportunities and allows Vietnamese enterprises to connect with international customers. If the exports in the last two months of the year reach 3 billion USD, the total exports of the wood industry will reach nearly 16 billion USD in 2024.