Wood and Wood Products (W&WP) trade highlights

CN,Tháng Ba 12,2023

According to statistics from Customs W&WP exports in January 2023 reached US$806 million, down 39% compared to December 2022 and down 49% compared to January 2022. Of this WP exports were US$491.7 million, down 44% compared to December 2022 and down 58% compared to January 2022.

Vietnam’s W&WP exports to South Korea in January 2023 were valued at US$63.5 million, down 36% compared to December 2022 and down 39% compared to January 2022.

Due to the long Vietnamese Lunar New Year holidays trade was interrupted. In addition, high inflation and rising interest rates in South Korea depressed demand.

In January 2023 exports of kitchen furniture reached US$64 million, down 39% compared to December 2022 and down 46% compared to January 2022.

In January 2023, exports of bedroom furniture stood at US$103 million, down 38% compared to December 2022, down 54% compared to January 2022.

Due to the New Year holidays wooden handicraft exports to the EU in January 2023 dropped sharply, earning just US$18.5 million, down 34% compared to December 2022 and down 52% compared to January 2022.

Vietnam’s imports of wood and wood products in January 2023 were valued at US$120.5 million, down 42% compared to December 2022 and down 52% compared to January 2022.

Imports of wood raw materials from China in December 2022 reached 36,890 cu.m at value of US$17,515 million, down 3.5% in volume but up 2% in value compared to November 2022. Compared to December 2021 imports were down 42% in volume and 45% in value. In 2022 imports of wood raw material from China amounted to 650,340 cu.m with a value of US$350.65 million, year-on-year, down 35.0% in volume.

Source: ITTO