HCMC – Vietnam’s wood and wood product exports reached a record US$16.25 billion in 2024, a 20.3% increase over the previous year, showed data from the General Department of Vietnam Customs.
The figure surpassed the previous high of US$15.8 billion set in 2022. Of the total, wood products accounted for US$11.2 billion, up 21.9%, while non-timber forest products contributed US$1.04 billion. This brought the forestry sector’s total export value to US$17.3 billion, reported the Government news site baochinhphu.vn.
In the fourth quarter alone, wood exports reached an estimated US$4.5 billion, up 7.4% quarter-on-quarter and 17.3% year-on-year.
The forestry department anticipates continued growth in 2025, targeting US$18 billion in exports. However, challenges such as global economic volatility, legal sourcing requirements, and increasing competition are expected to persist.
Vietnam’s primary export markets, including the United States and the European Union, demonstrated robust demand throughout 2024. Growth was further fueled by emerging markets and efforts to diversify production and expand market reach.
New regulations, including the European Union Deforestation Regulation (EUDR) and the Carbon Border Adjustment Mechanism (CBAM), are expected to drive the industry toward sustainable practices, according to Tran Quang Bao, head of the Forestry Department under the Ministry of Agriculture and Rural Development.
To ensure compliance with international standards, the forestry department is piloting a plantation code system in northern provinces. This system aims to enhance transparency and traceability in timber supply chains while assessing carbon absorption.
Vietnam is also investing in high-tech wood processing zones and developing certified sustainable raw material areas to enhance competitiveness.
