Disclaimer: The information provided on the Timber Exchange Market Data Hub is sourced from a variety of publicly available data sources and confidential sources that have not been independently verified. Timber Exchange is not responsible for any expenses, damages, losses, or costs incurred as a result of using or relying on the information provided on this site. By using the Timber Exchange Market Data Hub, you agree to use the information at your own risk and acknowledge that any decisions made based on the information provided are done so solely at your own risk.
Vietnam's exports of timber products fell by 28.3% in the first 3 months of 2023

Vietnam's exports of timber products fell by 28.3% in the first 3 months of 2023

Posted on April 24, 2023   |  

In the first 3 months of 2023, Vietnamese exports of timber and wood products fell by 28.3% to $2.88 billion and in value, wood products fell annually by 38.5% to $1.87 billion compared to the same period in 2022.

In March, the export turnover of timber products reached $1.2 billion, a decline of 22.8% compared to 2022.

The exports of wooden furniture to the US dropped as the US housing demand index fell by 48.1% in February compared to the same period last year, resulting in a sharp decline in the demand for imported timber products from the market.

The EU’s new rule on not importing any products or goods from deforested areas after December 31, 2020, will also hinder the growth of the wood industry.

However in H1 2023, exports of wood products are expected to see growth when the economy recovers and the travel demand of tourists is expected to increase.



Previous Next