Explore the latest insights into Vietnam’s wood and wood product (W&WP) industry based on data released by the Vietnam General Department of Customs. This analysis covers key trends, export values, and fluctuations in the market from November 2023, shedding light on the challenges and opportunities within the sector. Discover the impact of varying import dynamics, export figures to Japan, and noteworthy trends in office furniture and Non-Timber Forest Product (NTFP) exports. Gain valuable insights into the industry’s performance, providing a comprehensive overview for those interested in the Vietnamese wood and wood product market.
Based on initial data released by the Vietnam General Department of Customs in November 2023, the exports of wood and wood products (W&WP) from Vietnam achieved a total value of US$1.3 billion. This represents a 1.4% increase compared to October 2023 and an 11% rise compared to November 2022. Notably, wood product (WP) exports played a significant role, contributing US$880 million to the total, showcasing a 0.8% month-on-month increase from October 2023 and a substantial 15.7% growth year-on-year. These statistics underline the positive trajectory of Vietnam’s wood and wood product exports during this period.
During the initial 11 months of 2023, the estimated exports of both wood (W) and wood products (WP) from Vietnam amounted to US$12.2 billion. However, this figure reflects a 17% decrease compared to the corresponding period in 2022. Notably, wood product (WP) exports are projected to be around US$8.3 billion during this period, indicating a significant decline of 19% compared to the same period in 2022. These estimations highlight a notable contraction in the export figures for both wood and wood products in the first 11 months of 2023, posing challenges for the industry.
In November 2023, Vietnam recorded imports of wood raw materials totaling 406,300 cubic meters, with a corresponding value of US$133.0 million. This represented a notable increase of 10% in both volume and value when compared to the figures from October 2023. However, in contrast to November 2022, there was a decline of 16% in volume and a substantial decrease of 24% in value. These statistics indicate fluctuations in the import dynamics of wood raw materials for Vietnam, with a recent monthly uptick but a noticeable decrease when compared to the same period the previous year.
For the initial 11 months of 2023, the estimated imports of raw wood in Vietnam reached 4,054 million cubic meters, with a total value of US$1.376 billion. This reflects a substantial decrease of 27% in volume and a significant 35% reduction in value compared to the corresponding period in 2022. Additionally, in November 2023, the wood and wood product (W&WP) exports to Japan amounted to US$126 million, indicating a notable 27% decline when compared to the figures from November 2022. These statistics highlight a considerable downturn in both the volume and value of raw wood imports and W&WP exports to Japan during the specified periods.
In the initial 11 months of 2023, the estimated exports of wood and wood products to Japan from Vietnam amounted to US$1.5 billion, indicating a noteworthy decline of 12% compared to the same period in 2022. Additionally, in November 2023, the export value of office furniture reached US$23.9 million, marking a 10% decrease when compared to the figures from November 2022. These statistics underscore a notable contraction in both the overall exports to Japan and the specific exports of office furniture during the specified periods.
For the initial 11 months of 2023, the estimated exports of office furniture from Vietnam amounted to US$245 million. This figure reflects a significant decline of 28% compared to the corresponding period in 2022. The statistics indicate a notable reduction in the export value of office furniture during the specified timeframe, suggesting challenges or shifts in the market dynamics for this particular product category.
In October 2023, Vietnam’s exports of Non-Timber Forest Products (NTFP) reached US$57.37 million, marking a 9% increase compared to September 2023 and a similar 9% rise compared to October 2022. However, the cumulative figures for the first 10 months of 2023 show a decrease in NTFP exports, earning US$596.19 million, down by 14% over the same period in 2022. These statistics highlight both monthly growth and an overall decline in the export performance of Non-Timber Forest Products for Vietnam during the specified periods.
Sorce: Fordaq.com
