Vietnam wood exports near 11 7 billion in eight months
Vietnam s wood and wood product exports reached an estimated 11 69 billion in the first eight months up 5 per cent on year with the US remaining the largest market despite growing trade pressures
Vietnam's wood exports reached $11.69 billion over the past eight months, with a significant $1.48 billion earned in August alone, according to a September 8 report from the Ministry of Agriculture and Environment (MAE). Wood and wood products reported the highest export value among Vietnam's agricultural commodities during this period.
The United States remained the largest export market, accounting for 49.9% of total wood and wood product exports, with Vietnam earning nearly $1 for every $2 generated in this market. China has shown remarkable growth, with exports to the country increasing by 46.4% year-on-year to $1.54 billion, elevating China's share to 15% and surpassing Japan as Vietnam's second-largest market.
Other Asian and European markets, including Japan, Malaysia, the Netherlands, Germany, and the UK, also experienced solid growth, pointing towards improved demand. Mexico's wood export value doubled on-year, while India saw a sharp decline of 30.3%. However, the US export market faces challenges due to increased trade defense measures, with the US Department of Commerce imposing an 84.95% anti-dumping duty rate on hardwood plywood and decorative plywood from Vietnam.
Despite this, the industry continues to grow, with Vietnam's wood exports reaching $12.4 billion in the first nine months of the year.
Written by urgent.news from Vietnam Investment Review's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
