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Vietnam’s timber trade is under strain due to Ukraine’s war and logging issues
Posted on November 7, 2022 |
- In August and September, Vietnam’s wood products exports fell by 21%, with over a 14.6% drop in total shipments.
- Part of Vietnam’s issues arose from allegations of the country importing Chinese goods for re-export with “Made in Vietnam” labels, which began with the onset of the China-US tariff war in 2018.
- The war in Ukraine is worrying as the sanctioned products from Russia may be routed via Vietnam, which continues to maintain a neutral position on the dispute between Kyiv and Moscow.
- The US Commerce Department launched several investigations into Vietnamese wood exporters over alleged illegal transshipments and the penalties include fines or import bans.