Vietnam's wood and wood product exports to the US market fall sharply

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ITTO/Fordaq
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The Vietnamese Department of Customs has reported that wood and wood product (W&WP) exports to the US market in April 2023 were valued at US$584 million, down 38% compared to April 2022. In the first 4 months of 2023 W&WP exports to the US market are estimated at US$1.97 billion, down 41% over the same period in 2022. W&WP exports to Canada in April 2023 were recorded at US$16.3 million, down 32% compared to April 2022.

In the first 4 months of 2023 W&WP exports to the Canadian market are estimated at US$57.6 million, down 35.7% over the same period in 2022.

Exports of bedroom and dining room furniture in April 2023 are estimated at US$184.1 million, down 39% compared to April 2022. In the first 4 months of 2023 exports of bedroom and dining room furniture amounted to US$623 million, down 44% over the same period in 2022.

Vietnam's imports of oak wood in April 2023 are estimated at 27,300 cu.m, worth US$14.8 million, up 3.2% in volume and 3.1% in value compared to March 2023.

Compared to April 2022, imports increased by 18% in volume and 15% in value. In the first 4 months of 2023 oak imports are estimated at 79,100 cu.m, worth US$43.8 million, up 6.4% in volume but down 0.6% in value over the same period in 2022.

Imports of logs and sawnwood (raw wood) from the EU to Vietnam in April 2023 showed a third consecutive month of increase, reaching 58,000 cu.m at a value of US$18.0 million, up 11% in volume and 13% in value compared to March 2023; but down 14% in volume and 20% in value compared to April 2022. In the first 4 months of 2023, imports of raw wood from the EU was recorded at 192,310 cu.m at a value of US$58.82 million, down 17% in volume and 20% in value over the same period in 2022.

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