AsemconnectVietnam - In the first eight months of 2023, the exports of wood and wood products were estimated at 8.3 billion USD, down by 25.9% over the same period of 2022.

According to the Import-Export Department (Ministry of Industry and Trade), citing data from the General Department of Customs, it is estimated that in August of 2023, Vietnam’s exports of wood and wood products reached 1.1 billion USD, down by 1.9% compared to the previous year and decreased by 22.8% compared to August of 2022.
In which, the exports of wood products were estimated at 742 million USD, down by 0.7% compared to July of 2023 and down by 17% compared to August of 2022.
In the first eight months of 2023, the country’s exports of wood and wood products were estimated at 8.3 billion USD, down by 25.9% over the same period of 2022.
In which, the exports of wood products were estimated at 5.6 billion USD, down by 28.4% over the same period of 2022.
The exports of wood and wood products are facing unprecedented difficulties because of the shortage of orders, running out of cash flow, trade barriers from the US and new barriers from the US and EU markets.
Therefore, the ability to boost the exports of wood and wood products in the last months of the year will continue to face many difficulties.
Wooden furniture was the main export item of the wood industry in the first 7 months of 2023, however, due to the world economic situation continuing to face many difficulties and challenges, although inflation has cooled down, most major economies have low growth due to declining aggregate demand, tightening monetary policy, more complicated military conflict between Russia and Ukraine, geopolitical instability, food security, natural disasters, and climate change consequences, etc... are increasing day by day.
In addition, major economies that are Vietnam's export partners such as the US and EU reduced spending on purchasing non-essential products, causing the volume of wooden furniture orders to decrease significantly. In the first 7 months of 2023, the export value of wooden furniture reached 4.3 billion USD, down by 32% compared to the same period of 2022.
In addition to exported wooden furniture, in the first 7 months of 2023, a number of wood products and exported wood products also decreased rapidly, such as wood chips reached 1.2 billion USD, down by 18.4% compared to the same period of 2022; wood planks and flooring with 955.7 million USD, down by 23.6%; wood pellets reached 380.1 million USD, down by 7.9%; wooden doors reached 23.8 million USD, down by 26.7%.
CK
Source: VITIC/congthuong.vn