Vietnam's wood export value grew by 12% to $9 billion in 9 months

Posted on October 6, 2023   |  

Vietnam's wood exports during the initial 9 months amounted to $9 billion, marking a 12% increase compared to the prior year.

Of this total, $8.38 billion represented earnings from wood and timber product exports, reflecting an 11.2% growth.

Leading the export markets, the US contributed $4.19 billion, experiencing a notable 27.4% upswing, followed by Japan, China, the EU, and South Korea.

The wood industry has set an ambitious goal to achieve a $20 billion export turnover by 2025.

Although the domestic wood processing sector faced challenges from COVID-19 earlier in the year, it made a remarkable recovery starting in July when the pandemic was effectively controlled.

Importantly, the export value of wood and forestry products achieved double-digit growth in August and September, surpassing $1 billion for the first time in the previous month, highlighting the sector's resilience and potential for further expansion.