Information from the Ministry of Agriculture and Rural Development shows that the export turnover of wood and wood products in 2023 will reach 13.4 billion USD, down 16.2% compared to 2022. This is the first year that Vietnam's strength is in the Top 5 in the world, recording negative growth after maintaining an increasing momentum over the past 2 decades, with export turnover increasing from 219 million USD in 2000 to 15.8 billion USD in 2022.
In January this year, Deputy Minister of Agriculture and Rural Development Phung Duc Tien said that the market recovered well, with all export items increasing dramatically. Of which, wood and wood products exports earned 1.49 billion USD, up 72.5% over the same period last year.
In the agricultural sector, wood and wood products are also the only items with export turnover exceeding 1 billion USD in just 1 month and accounting for 29% of the total export turnover of the entire agricultural sector.
Currently, the US, China, Japan and South Korea are the four main export markets of the Vietnamese wood industry. In 2023, these markets will account for 85% of the total export turnover of this industry in our country.
The export turnover of the wood industry shows signs of recovery from the last months of 2023. However, facing market difficulties when conflicts between countries become complicated and prolonged, affecting business activities of enterprises.
The wood industry is facing a number of issues that directly affect its sustainability, especially EU anti-deforestation regulations, low-carbon wood products, and risks from imported wood materials.
Along with that, the Red Sea conflict forced some shipping lines to announce the suspension of cargo transportation, or change schedules, leading to increased shipping costs with many additional charges, etc.
These factors have a great impact on wood industry enterprises, so the export prospects of wood and wood products in 2024 still face many challenges.
However, the forestry sector still targets wood exports of $17.5 billion this year. If the target is met, the industry’s export turnover in 2024 will increase by 21% compared to 2023 and by 3% compared to 2022.
Management agencies and industry experts emphasize building an image of Vietnam's wood industry as developing sustainably, based on the fundamental factor of using certified wood and emission-reducing products.
According to Mr. Tran Quang Bao, Director of the Forestry Department (Ministry of Agriculture and Rural Development), achieving the goal of green production will give wood and forestry processing enterprises an advantage because consumers are increasingly paying attention to green products, products that do not degrade or deforest, and do not emit greenhouse gases during the production process.
Green manufacturing businesses with green supply chains will also gain credibility with customers.
In addition, when the carbon border adjustment mechanism is implemented in the main export markets of the Vietnamese wood industry such as the EU, the United States, Japan, etc., products that meet green production standards and green production chains will not have to pay greenhouse gas emission fees.
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