An agricultural product in the top 7 with an export value of over 5 billion USD, the US market accounts for 55%.

According to the report released by the General Statistics Office, in June 2024, the total import and export turnover of goods was estimated at 63.24 billion USD, down 2.7% compared to the previous month and up 11.7% over the same period last year.

In the first 6 months of 2024, the total import and export turnover of goods reached 368.53 billion USD, up 15.7% over the same period last year, of which exports increased by 14.5%; imports increased by 17%. The trade balance of goods had a surplus of 11.63 billion USD.

There were 29 items with export turnover of over 1 billion USD and 7 items with export turnover of over 5 billion USD, of which wood and wood products had export turnover of 7.4 billion USD, an increase of 22.2%.

Mr. Ngo Sy Hoai - Vice President and General Secretary of the Vietnam Timber and Forest Products Association said that the wood market is recovering, and the export of most wood and wood products has grown positively in the first 6 months of the year.

Vietnam's wood industry has expanded its export market to 170 countries around the world, penetrating deeper into important markets such as the US, Europe, Korea, Japan and becoming more present in emerging markets such as the Middle East, India, etc.

According to the General Statistics Office, in the first 6 months of 2024, wood and wood products exported 7.4 billion USD, an increase of 22.2%.

Vietnam’s wood industry is well-positioned to take advantage of strong demand from both domestic and international markets. The return to growth is partly due to the gradual return of demand from import markets.

Besides, many businesses also boldly invest in new technology, digital transformation to develop new products and services, improve competitiveness to attract orders.

A representative of the Ho Chi Minh City Handicraft and Wood Processing Association said that the strong growth in wood and wood products exports was due to positive signals from the US and EU markets. The US is still the largest market for Vietnamese wooden furniture exports, accounting for 55% of the total turnover.

Therefore, keeping up with the latest trends in the US market is what businesses are aiming for to meet the spending tastes of the people of this country.

Currently, it is not the peak season but each month Vietnam exports 1.2 - 1.4 billion USD worth of wood products. With the current increase, the last months of the year during the peak shopping season of other countries can increase to 1.6 - 1.8 billion USD, so Vietnam's export target of 17.5 billion USD this year can be achieved.

The report of the Import-Export Department (Ministry of Industry and Trade) shows that the wood market is recovering, the export of most wood products and wood products has grown positively in the first 6 months of 2024. The growth rate of wooden furniture exports is high, thanks to the consumption of goods in many major markets such as the US and Europe is gradually receiving positive signals.

Along with that, in recent times, many wood industry enterprises have updated market trend research and converted from export processing to designing new, beautiful and good quality models, which are highly appreciated by many international buyers.

This shows that the Vietnamese wood processing and furniture industry is on the right track, not only to increase export value but also to gradually enhance the position and brand of Vietnamese wooden furniture in the international market.

Source: https://danviet.vn/mot-mat-hang-cua-nganh-nong-nghiep-nam-trong-top-7-dat-gia-tri-xuat-khau-tren-5-ty-usd-thi-truong-my-chiem-55-20240629211411779.htm