HCMC – Vietnam’s wooden products exports had generated around US$13.2 billion in the year to October, a 12% year-on-year increase, and are projected to reach between US$15.5 billion and US$16 billion in all of 2024.
The U.S. remained the largest importer of Vietnam’s wooden goods in the first 10 months, accounting for over 50% of the total, followed by China and Japan, the Vietnam News Agency reported.
Exports to the U.S. and China experienced double-digit growth compared to last year, while shipments to Japan barely increased. Among the top 15 export markets, Spain recorded the most notable growth, with wooden product exports soaring by over 63%.
Other wood-related products also demonstrated impressive performance, including wood chips, which rose nearly 38%, and general wood products, which increased by over 20%.
Plywood, wood pellets, and wood chips were standout performers, posting growth of between 25% and 30%.
These products cater to diverse markets: plywood is primarily shipped to the U.S., Japan, and Malaysia; wood pellets are in high demand in Japan and South Korea; and China remains the main market for Vietnam’s wood chips.
The global trend toward sustainable production and consumption has driven businesses to adapt by focusing on certified raw materials and eco-friendly products. Companies have increasingly expanded their operations to tap into new markets and align with the rising demand for sustainability.
