Wood exports decrease during two-month period
VOV.VN - Vietnam’s exports of timber and wood products during the opening two months of the year dropped by 34.8% to US$1.6 billion against the same period from last year, according to details given by the General Department of Vietnam Customs.
Of the figure, the export value of wood products stood at an estimated US$982 million, a year-on-year drop of 47.5%. February alone saw the export value of timber and wood products reach US$800 million, down 10.9% compared to last year's corresponding period.
The shortage of orders coupled with the prolonged Lunar New Year holiday can be seen as the reasons behind the sharp fall in timber and wood exports in January.
Wooden furniture exports therefore recorded the strongest decline with wooden frame chairs taking the lead with US$164 million, down 52.9% compared to the year previously, followed by living room and dining room furniture with US$119.3 million, down 63.1%, and bedroom furniture with US$79.5 million, a fall of 64.7%.
Most notably, wood pellets and woodchips witnessed an increase in value due to the increasing scarcity of energy in many countries around the world, thereby pushing the demand for these products.
According to information given by the Vietnam Timber & Forest Products Association, the country earned over US$787 million from wood pellet exports last year, up over 90% on-year.
The average export price of wood pellets reached a record high compared to the previous 10 years, reaching more than US$189 per tonne in December last year.
The export volume of wood pellets to Japan and the Republic of Korea accounted for 97.5% and 96.7% of the country’s total export turnover, respectively.
