$9.58 billion! From January to July 2021, Vietnam’s timber and furniture exports surged by 55%
According to the statistics of the General Administration of Customs of Vietnam, in the first July of this year, Vietnam’s export of wood and wood products reached US $9.58 billion, an increase of 55% over the same period in 2020, of which the export of wood products reached US $7.44 billion, a year-on-year increase of 64%.
Vietnam’s novel coronavirus pneumonia epidemic is higher in Vietnam and the rest of the world, experts from Vietnam’s timber processing and export industry say. Due to the outbreak of the epidemic, consumers have taken the initiative to buy Wooden furniture and supplies, thus bringing opportunities for the wood processing and export industry.
Tian Guangxie, chairman of Pingyang timber processing association, said that at present, the export of timber from the province to major markets has soared. Since the Vietnam EU free trade agreement (evfta) came into force in August 2020, Pingyang province and even Vietnam’s wood processing and export industry expect to expand the sales market in European countries.
Wu Wenzong, director of Pingding Provincial Department of industry and trade, said that at present, the raw wood products have been exported to 70 countries and regions on five continents in the world. In 2021, the raw wood products enterprise has signed orders up to the third quarter of this year. As the U.S. government lowered the loan interest rate and the housing market showed a growth trend, the export volume of wood products to the U.S. market is expected to increase. In addition, many countries have gradually lifted various blockade measures and resumed production activities, and consumption will recover.
In order to meet various timber import orders, Pingyang timber enterprises have quickly adapted to the situation and changed the mode of production and transaction. At present, enterprises in various industries in various industrial zones of Pingyang province have expanded their leased land and expanded their plants to meet the orders transferred from foreign markets to Vietnam.
Pei Zhengyi, deputy director of Vietnam’s forestry administration, said that in addition to the markets of the United States, Japan and Hong Kong, Vietnam’s timber and wood products exports to the EU will soar.
Vietnam’s wood processing and export industry is showing a vigorous development momentum. However, the industry is still facing many difficulties. The biggest difficulty is the epidemic. In addition, Ruan Lian, chairman of Pingyang linyue company, said that in the past two years, the export volume of the wood industry has increased sharply, but the industry still faces many potential risks due to the increase of protective measures for sudden increase products by the United States.
At present, the Ministry of industry and trade is issuing policies and plans to assist enterprises to effectively carry out trade promotion plans, so as to effectively explore major markets and emerging markets.