Timber and wood product exports gross US$9.5 billion by mid-August

Of the figure, wood products earned US$6.5 billion, accounting for 68% of the total proportion and representing a rise of 23% against the same period from last year.

Statistics indicated that Vietnam's major export markets witnessed positive growth compared to the same period from last year.

The United States made up the country’s largest export market with turnover increasing by 25.9% on-year to US$4.88 billion during the seven-month period; followed by China with US$1.2 billion, up 39% on-year; Japan with US$961 million, up 1.4%; and the Republic of Korea with US$452 million, up 2.1%.

Meanwhile, Vietnamese wood and wood product exports to Canada raked in US$133 million, up 25%; whilst exports to the UK reached US$124 million, up 17.8%.

Along with export markets with turnover exceeding US$100 million, the country earned US$90.7 million from wood and wood exports to Malaysia, up 12.8% on-year. This also made up the only market in the ASEAN bloc to rank among Vietnam’s top 10 export markets during the seven-month period.

Elsewhere, Vietnamese timber and wood exports to Australia, India, and France reached US$86 million, US$84.4 million, and US$63.7 million, marking year-on-year increases of 14.6%, 65.8%, and 12.9%, respectively.

According to insiders, there is positive outlook ahead for the wood industry with wood and wood products exports reaching US$14.2 billion this year, up 6% compared to 2023.