HCMC – Vietnam’s wood exports reached an estimated US$14.6 billion between January and November, edging closer to the target of US$15.2 billion for this year, according to the Vietnam News Agency.
The wood industry has leveraged recovery signals to regain momentum, with the U.S. remaining Vietnam’s largest market with over 54% of the country’s wood export revenues.
Southern provinces, including Binh Duong, Dong Nai, and Binh Dinh, have focused on innovative designs and expanded e-commerce channels. In Dong Nai alone, wood exports reached US$1.3 billion, up 14.3% year-on-year, primarily destined for the U.S., Europe, Japan, South Korea, and China.
Still, Vietnam’s furniture industry has yet to establish strong domestic brands or designs, according to Associate Professor, Dr. Vu Hong Cuong, vice chairman of the Vietnam Interiors Association.
Domestically, the high-end segment is still dominated by imports from Europe. Mid-range and budget furniture offerings often lack distinctive designs and styles, which contributes to the high consumer preference for imported products, he added.
Vietnam’s domestic furniture market, though heavily reliant on imports, presents huge potential driven by a growing middle class, said Nguyen Quoc Khanh, chairman of AA Corporation. The 100-million-people market is valued at no less than US$10 billion.
The wood sector should prioritize low-emission production, technological advancements, and sustainable branding to boost its global competitiveness, said Do Xuan Lap, chairman of the Vietnam Timber and Forest Product Association (VIFORES).
