Wood and Wood Product (W&WP) Trade highlights

T6,Tháng Ba 10,2023

Vietnam: Wood and Wood Product (W&WP) Trade highlights

• In 2022, W$WP exports valued at 16 billion USD, showing a year-on-year growth of 8.1%. Of this, WP exports contributed US$11.04 billion, down 0.3% compared to 2021.
• The exports of wooden furniture in December 2022 valued at US$798.6 million, down 18.6% compared to December 2021. In 2022, the export turnover of wooden furniture totaled at US$10 billion, down 0.4% over the same period in 2021.
• In 2022, imports of raw wood reported at 5.993 million m³ equivalent to US$2,270 billion, down 4.3% in volume, but up 5.2% in value compared to that of 2021.
• Imports of logs and lumbers the US to Vietnam in December 2022 experienced the fourth consecutive month of decline, accounting for 44.16 thousand m³, with the value of US$19.19 million, down 17.8% in volume and 21.9% in value against November. However, the imports from the US showed an increase of 25.4% in volume, but a decrease of 2.6% in value compared to December 2021. In general, over 2022, imports of logs and lumbers from the US to Vietnam totaled at 689.43 thousand m³, worth US$327.11 million, up 0.8% in volume and 2.8% in value compared to 2021.

Vietnam’s W&WP exports increased by 8.1% in 2022

Over the last 10 years, Vietnam’s W&WP exports have been increasing steadily. The mean growth in the period 2012 – 2022 is calculated at 13.7% per year. This growth experienced higher rate in 2018, 2019 and 2020. In 2021, amid the Covid-19 pandemic, the export growth rated at nearly 20 %.

However, by 2022, the growth rate of W&WP export turnover has with the export turnover recorded at US$16 billion, up just 8.1% compared to 2021 (much lower than the growth rate of 19.7% in 2021).

W&WP exports in December 2022 reached 1.3 billion USD, up 11.5% compared to November 2022, but down 8.4% compared to December 2021. In which, WP exports alone brought about US$875 million, up 15% compared to November 2022, but down 18.6% compared to December 2021. In 2022, W&WP exports nearly US$16 billion, up 8.1% compared to 2021. WP exports contributed for US$11.04 billion, down 0.3% compared to 2021.