Vietnam is expected to post revenue of $14-14.5 billion from wood exports this year, according to Deputy Chairman of the Handicraft and Wood Industry Association of Ho Chi Minh City (HAWA) Nguyen Chanh Phuong.

Speaking at a press conference on September 13 to introduce VietnamWood 2023 - the 15th holding of an international exhibition on industrial machinery and equipment for the wood processing industry - Mr. Phuong said exports have begun to exhibit positive signs in the third quarter.

Wood export turnover reached over $1.1 billion in August after a long period of decline, he said.

However, total revenue in the first eight months of 2023 was estimated at only $8.3 billion, down around 26 per cent year-on-year.

VietnamWood 2023 is expected to help businesses gain access to or update and renew technology to tap opportunities from the recovery of the wood and furniture market after a long period of difficulties caused by Covid-19, Mr. Phuong said.

Scheduled for September 20-23, the expo is expected to draw more than 320 domestic and foreign businesses from 28 countries and territories, such as China, Germany, Italy, India, Indonesia, Japan, South Korea, Malaysia, Singapore, Taiwan (China), Thailand, and the US.