According to Import-Export Department (Ministry of Industry and Trade), it is estimated that in June 2024, export value of wood and wood products of Vietnam reached 1.25 billion USD, down 1.1% compared to May 2024, but up 13.6% compared to June 2023; of which, export value of wood products is estimated to reach 840 million USD, up 0.6% compared to May 2024, but up 10.4% compared to June 2023.
In the first 6 months of 2024, wood and wood product exports are estimated to reach 7.4 billion USD, up 22.2% over the same period in 2023. Of which, export value of wood products is estimated to reach 5.03 billion USD, up 21.4% over the same period in 2023.
According to Department of Forestry, Ministry of Agriculture and Rural Development, in the first half of 2024, wood and forest product exports earned 7.95 billion USD, up 21.2% over the same period in 2023, reaching 52.3% of the year's plan. Some major markets increased sharply such as: the United States reached 4.38 billion USD, up 27.6% over the same period in 2023; China reached 1.059 billion USD, up 46.6%.
In terms of markets, in the first 6 months of 2024, export turnover of wood and wood products to the United States reached 4.38 billion USD, accounting for 55% of total export turnover of the whole industry. Since the beginning of the year, wood and wood products exported to the US market have grown strongly, showing that demand is recovering rapidly in this market. In particular, wooden furniture is the main export item to the US, which is also an item that brings high added value to the wood industry. In the first 6 months of 2024, export value of wooden furniture to the United States reached 3.45 billion USD, an increase of 30% over the same period in 2023. Most wooden furniture items exported to the United States have grown positively. Next is export of wood, board and flooring products reaching 323 million USD, an increase of 94% over the same period in 2023.
Vietnam's export of wood and wood products to Chinese market also grew very strongly. Specifically, in the first 6 months of 2024, it reached more than 1 billion USD, an increase of up to 46.6% over the same period. In particular, proportion of China's office furniture imports from Vietnam increased very strongly, accounting for 24.7% of the total import value of China's office furniture.
Sharing about wood export market, Mr. Ngo Sy Hoai, Vice President and General Secretary of Vietnam Timber and Forest Products Association (Viforest) said: The United States is still the largest market for Vietnam's wood and forest product exports. Increased demand in many major export markets is the main factor driving positive growth in export of wood and wood products in the first months of 2024. In structure of exported wood and wood products, wooden furniture is always main export item with a high proportion of export value. In the first 5 months of 2024 alone, export value of this item reached 3.8 billion USD, an increase of 25.8% over the same period in 2023.
Import-Export Department commented that, with current growth rate, export prospect of wood and wood products is forecast to continue to maintain a double-digit growth rate with supporting factors such as: According to annual cycle, trend of increasing imports of wood and wood products, especially wooden furniture groups in major markets often increases sharply in the last 3 months of the year, when housing market enters completion and the need to purchase and renovate interior equipment to welcome the new year.
Inflation is controlled in major markets, creating momentum for increased consumption activities. Major economies are forecast to grow positively in 2024.

Source: Vitic/ congthuong.vn