Tiếng ViệtWith a significant market share worldwide ever since the late 2010s, Vietnam places it fifth among the world’s largest plywood exporters.
According to the International Trade Center (ITC), Vietnam earned $1.1 billion in revenue from plywood exports during the first 11 months of 2022, placing it fifth among the world’s largest plywood exporters. China was the leader with $5.89 billion in export revenue, followed by Indonesia with $2.51 billion, Russia with $1.9 billion, and Brazil with $1.2 billion.
Vietnam has been a top-five plywood exporter since 2018, with export revenue increasing from $774 million in 2018 to $1.2 billion in 2021 and $1.1 billion in 2022. Vietnam’s plywood products have a significant market share worldwide and are purchased by a wide range of customers. Approximately 40% of Vietnam’s exports went to the United States, while the Republic of Korea accounted for 24%.
Last September, the U.S. Department of Commerce (DOC) postponed its final ruling on an investigation into the evasion of anti-dumping and anti-subsidy taxes on imported hardwood and plywood from Vietnam. The investigation indicated that plywood from Vietnam, made using Chinese materials, should be subject to the same taxes imposed on Chinese products. However, if the materials used in Vietnam are sourced locally or from other countries, the products would be exempt from any taxes.
As the world shifts towards environmentally friendly, durable, and lightweight products, industrial plywood remains popular in the current technological landscape. However, a major challenge for Vietnam is to develop a sustainable plan for sourcing wood to avoid long-term dependence on imports and shortages of raw materials.
