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"Bright signal" for wood export enterprises 

 Tuesday, May 14,2024

AsemconnectVietnam - In the first 4 months of the year, export of wood and wood products increased sharply and is forecast to continue to grow when consumption in many markets shows signs of improvement.

Enterprises has orders until the end of the second quarter
According to data from General Department of Customs, export turnover of wood and wood products in April 2024 reached 1.3 billion USD, up 0.2% compared to March 2024 and up 19.4% compared to April 2023. Of which, wood product export turnover is estimated at 893 million USD, up 0.7% compared to March 2024 and up 14.1% compared to April 2023.
Cumulatively in the first 4 months of 2024, export of wood and wood products is estimated to reach 4.84 billion USD, an increase of 23.7% over the same period in 2023. Of which, export turnover of wood products is estimated to reach 3.3 billion USD, up 25.8% over the same period in 2023.
According to Ms. Nguyen Thi Cam Trang - Deputy Director of Import-Export Department (Ministry of Industry and Trade), favorable start in the first months of the year with increased orders and wood industry enterprises accelerated production to keep up with progress. Export performance has opened a positive signal and brought expectations to Vietnam's wood industry in 2024.
In particular, demand in major markets such as the United States, China, Canada, the UK and markets in the EU... is recovering, bringing optimism to Vietnam's export wood industry.
Looking back at the "picture" of the wood industry in the first 4 months of the year, Mr. Ngo Sy Hoai - Vice President and General Secretary of Vietnam Timber and Forest Products Association (VIFOREST) said that goods consumption in many large markets like the US and Europe are receiving gradually better signs, thereby promoting an increase in export orders, including wood and wood products.
According to records from the association, business orders in the first quarter of 2024 are quite optimistic. Many enterprises have received orders until June and some enterprises have even received orders until the end of 2024. Being very different from 2023, 2024 opens with the purchasing power of the world market warming and the wood industry recovering, showing positive signals.
With Vietnam's position in the group of countries with the world's leading wood export proportion, Vietnam's wood industry has expanded export markets, penetrating deeper into important markets such as the US, EU, Korea, Japan and increasingly present in emerging markets such as UAE, India...
"Consumption in major markets has recovered, with expectations that this industry will have opportunity to accelerate exports in the immediate future in the second quarter and the whole year 2024," Mr. Hoai said.
Also according to Vice President of VIFOREST, with many strengths in forestry development, enterprise support policies and free trade agreements, Vietnam's export of wood and wood products has achieved many successes in international market. Vietnam's wood industry is well positioned to take advantage of strong demand from domestic and international markets. At the same time, enterprises are investing in new technology and digital transformation to develop new products and services, improve competitiveness, increase efficiency and productivity.
Build multiple solutions
Despite seeing positive signs, VIFOREST leaders still maintain a cautious attitude in face of unforeseen changes in the world. Mr. Hoai commented that export sales in 2024 may only be at the same level as the previous year.
Along with that, wood industry still faces many difficulties as Vietnam's main export markets increasingly require strict control of wood origins to ensure legality, without affecting degradation or green production, reducing greenhouse gas emissions... The risk of trade fraud and fake origin of goods is increasing; Complicated trade competition is also a big challenge for Vietnamese wooden furniture exporters.
"To concretize export sales, the wood industry is focusing on many key issues, including promoting market towards sustainable development. Because if market is not built well, it will greatly affect turnover of wood exports in 2024," Mr. Hoai said.
Accordingly, in the first quarter of 2024, VIFOREST successfully coordinated to organize a series of wood industry fair events in March, including: Wood & Furniture Export Fair (Hawa Expo) 2024 in City. Ho Chi Minh City and International Fair of Outdoor Style Products in Quy Nhon (Q-FAIR) 2024. This is also the first and largest fair of wood industry for outdoor goods, a place to trade and create opportunities for Vietnamese businesses to reach international customers.
In addition, wood industry enterprises coordinate with Ministry of Industry and Trade and Ministry of Foreign Affairs to participate in many trade promotion programs, open fairs, set up offices, warehouses and large purchasing centers, especially is in European and American markets. This is the strongest opportunity to promote export of wood and wood products.
Notably, in recent times, many wood industry enterprises have quickly researched market trends and converted from processing for export to designing new, beautiful and good quality designs.
"This is a good sign that Vietnam's wood processing and furniture industry is on the right track, not only to increase export turnover but also gradually enhance position and brand of Vietnam's wood furniture industry in international market", VIFOREST leaders assessed.

L. Giang
Source: Vitic/ congthuong.vn
 

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