By interlink | 21/05/2024
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Overview of the Wood Export Market in Vietnam
According to data from the General Department of Customs, Vietnam’s exports of wood and wood products reached US$13.5 billion, a decrease of 15.9% compared to 2022. Looking ahead to 2024, the forestry sector aims for an export turnover of US$17.5 billion, an increase of 21% compared to 2023. The key solution for 2024 is to build a sustainable brand for the Vietnamese wood industry, using legally sourced materials and adopting a green transition to meet new international market standards.
Export Capacity of Wood and Wood Products
The value of Vietnam’s wood and wood product exports has grown steadily year-on-year during the 2017-2023 period. See chart below for more information:
Wood Industry Goals 2025-2030
Increase the number of wood processing and preservation facilities to 80% to achieve advanced technology and production capabilities.
Expected 100% increase in wood and wood products exported and consumed domestically, using legally sourced wood with sustainable forest management certification.
Main Export Items
In 2023, the main export items in the wood export structure showed a downward trend; however, the decrease was narrowed due to increased demand in the last months of 2023. Leading in export value were wooden-framed chairs, followed by living room and dining room furniture; wood chips; wood, boards and flooring; bedroom furniture…
The US is Vietnam’s main export market for wood and wood products.
With a total export value of 54%, the US is the leading importer of Vietnamese wood products. Following are China (12.7%), Japan (12.4%), and South Korea (5.8%). EU 3.4%,…
Import of Raw Materials
In 2023, Vietnam imported 4.44 million m³ of raw timber, worth US$1.506 billion, a decrease of 25.9% in volume and 33.7% in value compared to 2022.
Handicrafts
In 2023, Vietnam’s exports of handcrafted ceramics reached US$154.60 million, a decrease of 33.5% compared to 2022. Currently, Vietnam’s handcrafted ceramic exports are facing strong pressure from competitive markets such as China and Thailand. To increase competitiveness, businesses are constantly improving product quality, actively promoting design development, trade promotion, and participating in trade fairs and exhibitions to connect with customers.
Business and Labor Structure
According to the Ministry of Agriculture and Rural Development, the country currently has over 5,600 enterprises involved in the production, trading, and processing of wood and forest products. Of these, approximately 300 are traditional craft villages, and 2,600 are direct exporters. However, only 2.2% are large-scale enterprises (over 100 billion VND). The industry has nearly 799 FDI enterprises, accounting for 18% of the total number of enterprises, but the export turnover of FDI enterprises accounts for 48% to 50% of the total export turnover of the wood processing and export industry.
Currently, the wood industry employs over 500,000 workers and more than 1 million dependents. Unskilled labor makes up the majority of this workforce. Average labor productivity increased from US$17,000 per person per year in 2010 to US$25,000 per person per year in 2022. According to the General Department of Forestry, to achieve the export target of US$20 billion by 2025, the industry is expected to need approximately 106,800 workers with university degrees or higher and over 445,200 highly skilled technical workers.
Source: Hawa Magazine
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