Tag: wood industry

The wood industry is recommended to diversify its markets, targeting Europe, Japan, Australia, Canada, the Middle East, and China to offset declines in the U.S. market...

The US remained the largest supplier of round wood to Vietnam, accounting for 16.5% of Vietnam's total round wood imports.

The US remains the largest export market for Vietnamese wood products, accounting for over 55% of the total.

Vietnam’s wood and wooden product exports were estimated at over $14.6 billion in the first eleven months of 2024, within reach of the revised target of $15.2 billion.

Revenue declining amid falling demand and global headwinds.

Exports have shown signs of recovery in Q3, wood association official tells local media.

Earnings from wood and wooden product exports tumble 26.2% in the first seven months of the year.

Fair expected to attract 100 domestic and international exhibitors.

Final conclusion now expected on May 2.

Exports down 11% to $800 million in February.

Forestry exports estimated at over $16.9 billion in 2022.

Vietnam is expected to become one of the world’s largest wood production centers over the next 10-15 years and is already making a major impression in Canada from the CPTPP.

Due to sharp increases in materials and transportation costs, the export turnover of wood and wooden products in July fell 5.5 per cent compared to June and 1.6 per cent year-on-year. According to the Timber Association and Forest Trends report, nearly half of surveyed wood enterprises believe their revenue will fall by 40 per cent this year.

Six per cent of enterprises in the wood industry surveyed by the Vietnam Timber & Forest Products Association said their revenue in 2021 will remain unchanged compared to 2020, while 37 per cent expect to see lower revenue and only 17 per cent anticipate higher revenue. The results are positive compared to previous predictions about the industry.

More than 50 per cent of wood enterprises in Vietnam’s south are at risk of going bankrupt. Demand for wooden furniture in major markets is now rising, so strategies and solutions for the industry to recover after the pandemic are needed.