Preliminary statistics from the General Department of Customs (Ministry of Finance) show that in the first half of February (from February 1 to 15), wood and wood product exports reached 353.97 million USD; cumulative exports from the beginning of the year to February 15 reached 1.82 billion USD, an increase of 0.61 billion USD over the same period in 2023.
In January, wood and wood product exports reached 1.47 billion USD, up 9.7% over the previous month and up 83.1% over the same period last year.
The US spent more than 800 million USD importing Vietnamese wood in January.
In January alone, wood and wood product exports reached 1.47 billion USD, up 9.7% over the previous month and up 83.1% over the same period last year.
The main export markets for wood and wood products in January included: the US (821 million USD, up 123.6%), China (170 million USD, up 35.3%), Japan (163 million USD, up 27.3%), South Korea (70 million USD, up 9.7%)...
Looking at the export performance in January and the first half of February, we can see that the growth rate in January was very high. This is also a normal development, similar to previous years.
Speaking with Thanh Nien this afternoon, February 24, a long-time expert in the wood industry analyzed that the export value of 1.47 billion USD in January was similar to nearly 1.5 billion USD in January 2022, slightly higher than 1.3 billion USD in January 2021.
"Although the export value is much higher than January 2023, this is not difficult to understand, because the export of wood and wood products since the end of 2022 has been on a downward trend and continues into early 2023," he said.
In fact, from October, November and January of the following year, wood and wood product exports to markets always increase significantly compared to the remaining months of the year. The reason is that February usually has the Lunar New Year holiday in Vietnam, so buyers in all markets rush to buy in advance to avoid being affected.
New exports clearly improve after June
Regarding the export figures of wood and wood products to Vietnam's leading market, the US, speaking with Thanh Nien , representatives of a number of businesses in the wood industry said that although the export value increased very high compared to the same period in 2023, there was nothing too surprising.
"In January 2023, wood and wood product exports to the US reached about more than 300 million USD, mainly due to the difficult economic situation. In fact, the entire industry's exports in 2023 decreased. However, compared to the export value of 881 million USD in January 2022, this year's export value is even lower; in January 2021, the export value to the US was also equivalent to this year," said the veteran expert in the wood industry.
The export market prospects for wood and wood products in general in the coming time are difficult to predict.
The outlook for the export market of wood and wood products in general in the coming time is considered difficult to predict by businesses. Particularly for the US market, the large inventory of goods, combined with unpredictable political developments, makes forecasting even more difficult.
At present, many businesses in the industry are spreading out to markets to learn and assess the actual market demand. It is forecasted that after June, the picture of the entire wood industry's export will be clearer.
According to Mr. Do Xuan Lap, Chairman of the Vietnam Timber and Forest Products Association (Viforest), although the market has shown signs of recovery, 2024 still poses some risks for the industry.
"In 2024, the wood industry will still be in a state of great uncertainty. The most important solution in 2024 is to create an image of a sustainable Vietnamese wood industry, based on the fundamental factor of using certified wood and products that reduce emissions," Mr. Do Xuan Lap emphasized.
In 2023, Vietnam's wood and wood products export turnover will reach 13.4 billion USD, down 16.2% compared to 2022. Of which, wood product export turnover is estimated at 9.2 billion USD, down 22.9%. In 2024, the whole industry aims to export 17.5 billion USD.
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