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 - Prime Minister Pham Minh Chinh on April 13 told the forestry and seafood industries to increase product quality and competitive capacity toward earning US$17.5 billion and US$10 billion in export turnover respectively this year.

The Ho Chi Minh City Export Furniture Fair (HawaExpo) 2023 is scheduled to take place from February 22 to 25, opening a series of trade promotion events in the wood sector this year.

Vietnam’s export of agro-forestry-aquatic products reeled in over US$3.7 billion in January, down 23% against the same period last year, according to the Ministry of Agricultural and Rural Development.

The export turnover of wood and wood products is expected to set a record high of US$18 billion in 2023, with wood pellets and woodchips forecast to enter the one-billion USD club.

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.

Due to the ongoing conflict in Ukraine, and many European countries turning their back on the supply of gas from Russia, the export potential of wood, and especially wood pellets, is on an upward trend.

While many products exported to the UK enjoyed strong increases thanks to the UK-Vietnam Free Trade Agreement (UKVFTA), Vietnam’s timber industry is facing difficulties in expanding in this market, requiring manufacturers and exporters to change their business strategies.

VOV.VN - The export value of Vietnamese timber and wood products in July stood at an estimated US$1.41 billion, marking a drop of 1.6% from the same period in 2021, and a second consecutive month of decrease this year.

VOV.VN - Bifa Wood Vietnam 2022, an international fair showcasing woodworking machinery and wood materials is scheduled to take place from August 8 to August 11 in the southern province of Binh Duong.