WOOD EXPORTS PLUNGE 31% TO USD 3.9 BILLION IN 4 MONTHS

The Import and Export Department (Ministry of Industry and Trade) said that in April, the export value of wood and wood products reached nearly $1.1 billion, down 4% compared to March and down 32% compared to April 2022. In which, the export value of wood products reached USD 777 million, flat compared to March but down 33% over the same period in 2022.

WOOD EXPORTS PLUNGE 31% TO USD 3.9 BILLION IN 4 MONTHS

Under the pressure of inflation and the global economic recession, the export of wood and wood products decreased by 31% over the same period, to only 3.9 billion USD in the first 4 months of the year. Exports to most of the markets in the region decreased by 11-44%.

The Import and Export Department (Ministry of Industry and Trade) said that in April, the export value of wood and wood products reached nearly $1.1 billion, down 4% compared to March and down 32% compared to April 2022. In which, the export value of wood products reached USD 777 million, flat compared to March but down 33% over the same period in 2022.

In the first 4 months of the year, the export turnover of wood and wood products reached US$3.9 billion, down 31% over the same period in 2022. In which, the export value of wood products reached US$2.6 billion, down 38% over the same period in 2022.

(Source: Import-Export Department)

According to the Import-Export Department, the world market is still heavily affected by inflation and economic slowdown, which reduces consumption and import demand. Therefore, most of the wood and wood products exported to the main markets decreased sharply in the first 4 months of 2023.

In which, exports of wood and wood products are the most to the US, however, the export value to this market recorded a decrease of 40% over the same period, reaching only 2 billion USD. Rising inflation has affected the demand for wood and wood products in the US and Vietnam's export activities.

However, the US is still a decisive market for the growth of Vietnam's wood industry. Therefore, the Import-Export Department believes that Vietnamese enterprises need to continue to maintain the US market by updating information and converting production according to the market's consumption trends.

  (Data: Import-Export Department)

According to the general movement of the market, wood exports to many important markets also recorded a decline such as China reaching US$481 million, down 11%; Korea reached 273.5 million USD, down 23%; UK reached 60 million USD, down 40%...