Vietnam exported 19.5 million tons of wood chips and wood pellets in 2023 for total revenue of $2.9 billion, according to the latest report from the Vietnam Timber and Forest Product Association (Viforest).

The two items accounted for 22 per cent of the total export value of wood and wooden products last year.

Over 14.4 million tons of wood chips were exported, bringing in $2.22 billion, down 8.8 per cent in quantity and 20.4 per cent in value compared to 2022.

Wood chips were exported to 13 markets, with China and Japan remaining the largest destinations, accounting for 92.4 per cent and 92.2 per cent of the total volume and value.

Meanwhile, businesses exported 4.67 million tons of wood pellets, earning $679.59 million, down 4.3 per cent in quantity and 13.7 per cent in value year-on-year.

Pellets were shipped to 22 countries and territories. South Korea and Japan were the two biggest importers, accounting for 96 per cent of volume and 96.6 per cent of value.