According to data from the Ministry of Agriculture and Environment, timber and wood product exports brought in over US$1.6 billion in May, pushing total earnings in the reviewed period to US$6.99 billion, up 11.5% year-on-year.

The US remained the largest buyer, accounting for 54.4% of Vietnam’s total wood export value. Japan and China ranked second and third, making up 12.8% and 10.5%, respectively. In contrast, exports to the Netherlands saw the steepest decline, falling 24.6%.

In the same period, Vietnam planted 105,000 hectares of concentrated forests, equivalent to 42% of the annual plan and 122.7% compared to last year’s corresponding period. Timber output from these plantations was estimated at 8.4 million cubic meters, up 10.2% year-on-year.

At a meeting on June 6 reviewing key forestry tasks, Deputy Minister of Agriculture and Environment Nguyen Quoc Tri endorsed a proposed study on the impact of tariffs on Vietnam’s wood processing industry. He also underlined the importance of managing input sources, certified wood, and area codes to prevent foreign companies from relabeling their products as Vietnamese for exports.

The Deputy Minister urged the Vietnam Administration of Forestry to work hand in hand with industry associations to help stabilize production and boost exports. He also directed relevant units to expedite the development of legal documents and schemes, especially those related to the organization of two-tier local administrations, to be submitted to the Government by June 15.

With key export markets tightening rules on traceability and origin, the Deputy Minister stressed that Vietnamese firms must strengthen supply chain management and quality control to maintain their foothold in the global market.

Wood exports poised to exceed target despite market challenges

Vietnam’s wood processing and export industry is on track to surpass its 2024 export target of US$15.2 billion, navigating through complicated market developments with strategic adaptability.