Although Vietnam saw positive results in the export of wood and wooden products in first quarter of this year, breakthrough measures are needed for the country to overcome global economic headwinds and achieve the yearly export target of US$18 billion.

Vietnam’s wood industry has recorded positive signs with significant increases in the export of key products despite ongoing global economic uncertainties, according to the Q3 meeting on wood processing and export held in the southern province of Binh Duong on August 9.

The export value of timber and wood products in Vietnam is estimated to reach over US$6 billion in the first five months of this year, an increase of 18% over the same period last year, according to General Department of Vietnam Customs.

VOV.VN - As many as 320 domestic and international wood processors are gathering in Ho Chi Minh City for the Vietnam International Woodworking & Furniture (VietnamWood 2023), which opened at the Saigon Exhibition and Convention Center (SECC) in District 7 on September 20.

VOV.VN - The export of wood and wooden products continued a downward trajectory, with the export value hitting US$5.1 billion over the past five months of this year to mark a year-on-year fall of 27%.

Vietnamese wood and wooden furniture enterprises have been facing many difficulties as export orders have dropped 50-60% since the beginning of this year, pushing firms to cut off at least half of their production capacities.

VOV.VN - Vietnam exported approximately US$14.4 billion of wood and wooden products over the past 10 months, up 10.7% year on year, according to the Ministry of Agriculture and Rural Development.

VOV.VN - The opening nine months of the year witnessed the export of timber and wooden products to the United States grow by 1.9% to US$6.8 billion on-year, according to details given by the General Department of Vietnam Customs.

VOV.VN - Vietnam raked in US$369.2 million from exporting timber and wooden products to the Republic of Korea (RoK) during the five months of the year, an increase of 7% against the same period last year, according to the General Department of Vietnam Customs.

Boasting huge production advantages and capitalising on good market opportunities, Vietnam’s furniture sector has stood firm amid COVID-19 and improved its position in the global market and especially in the US.