Vietnam earned $1.1 billion from exporting plywood in the first eleven months of 2022, ranking it the fifth-largest plywood exporter in the world, according to the International Trade Center (ITC).

China ranked first, with $ 5.89 billion in export turnover, followed by Indonesia, Russia, and Brazil.

Vietnam has been among the world’s top 5 plywood exporters since 2018, with turnover jumping from $774 million to $1.1 billion in 2022.

The US accounted for around 40 per cent of Vietnam’s plywood exports and South Korea 24 per cent.

Figures from the General Department of Vietnam Customs show that export turnover of wood and wooden products was estimated at $15.8 billion in 2022, of which $10.92 billion came from timber products, up 6.7 per cent year-on-year.