From January to April 2022, Vietnam’s timber and furniture exports were nearly 5.5 billion US dollars
According to Vietnamese media reports, statistics from Vietnam’s Ministry of agriculture and rural development show that in April 2022, Vietnam’s exports of wood and wood products reached US $1.5 billion.
Considering that the export volume of wood and wood products in the first quarter was about US $4 billion, Vietnam exported nearly US $5.5 billion worth of wood and wood products in the first four months of this year, with a year-on-year increase of more than 4.5%.
Vietnam wood and Forest Products Association (vivores) said that at present, Vietnam’s exports of wood and wood products are mainly concentrated in high value-added products, such as wooden frame chairs and wooden furniture in living room, dining room and bedroom. These wooden furniture are Vietnam’s key export products.
Do Xuan lap, President of the association, said that Vietnam’s timber and wood products production and export activities were actively promoted by a series of free trade agreements (FTA), such as the EU Vietnam free trade agreement (evfta), and the low tax rates implemented by both sides created a competitive advantage for Vietnam’s timber and wood products export.
In addition, he pointed out that the limited supply of wood and rising production costs in European and American countries have led to the reduction of production, which is regarded as a potential export opportunity to increase Vietnam’s wood and wood products.
The Association estimates that Vietnam’s total exports of wood and wood products will increase by 5% to 8% year-on-year in the first half of 2022.
In addition, from January to April 2022, Vietnam weakened its dependence on foreign timber and wood products, and its total import decreased by 2.6% year-on-year to US $968 million.
It is worth noting that in the first four months of this year, the total amount of red sandalwood imported by Vietnam was about 59200 cubic meters, with a value of about US $24.7 million. Compared with the same period last year, the number decreased by 6.5% and the value decreased by 4.3%. Among them, the import volume of red sandalwood from South Africa has increased significantly. At present, it is the red sandalwood supplier of Vietnam * *.