Shifts in export markets

Vietnam’s wood and wood product exports reached USD 1.6 billion in January 2026, up 12.5% year-on-year, reflecting a recovery in global demand and positive signals for the industry.

According to statistics from the Vietnam Customs, export value of wood and wood products in January 2026 totalled USD 1.6 billion, down 3.0% compared to December 2025 but up 12.5% compared to January 2025. Of which, exports of wood products reached USD 1.05 billion, down 2.2% month-on-month but rising 6% year-on-year.

Although slightly lower than December 2025 due to seasonal factors, the January figure still marked strong growth compared to the same period last year, indicating a sustainable recovery momentum from the very beginning of 2026.

January 2026 recorded notable shifts in the export market structure, reflecting enterprises’ flexibility in adapting to changes in global demand.

The United States remained Vietnam’s largest market, with export value reaching USD 808.6 million, accounting for 50.4% of the industry’s total exports, up 3.7% compared to January 2025.

Exports to China posted a strong rebound year-on-year, reaching USD 228.4 million, up 63.6% compared to January 2025, although down 16.8% compared to December 2025. Meanwhile, exports to Japan increased 10.9% month-on-month and surged 30.5% year-on-year, reaching USD 215.7 million.

In addition, exports to several other markets recorded high growth rates, including Malaysia (up 57.9% year-on-year), Germany (up 45.4%) and France (up 15.9%). In contrast, exports to South Korea declined to USD 57.9 million in January 2026, down 21.6% compared to January 2025.

Maintaining export value above USD 1.6 billion in the first month of the year is seen as a positive sign, suggesting that global consumption demand is gradually recovering. Strong growth in Northeast Asian markets such as China and Japan, alongside stability in North America including the US and Canada, indicates improving global demand. However, the share of exports to the US fell from 54.6% to 50.4%, showing a gradual shift toward alternative markets.

At the same time, logistics costs and sustainability regulations, such as the EU Deforestation Regulation (EUDR) and carbon credit requirements, remain major challenges for exports to the EU market. In the first quarter of 2026, wood exports are expected to maintain positive growth momentum, driven by new orders signed at international furniture fairs and stable consumer demand in North America and Northeast Asia.

Vietnam widens gap in US wooden furniture market

According to data from the US International Trade Commission (USITC), US imports of wooden furniture reached USD 1.4 billion in November 2025, down 23.4% compared to November 2024. In the first 11 months of 2025, US wooden furniture imports totalled USD 17.8 billion, down 8.3% year-on-year.

While imports from most major suppliers declined, imports from Vietnam maintained slight growth and further widened the gap with other supplying countries. Vietnamese wooden furniture accounted for 45.6% of total US wooden furniture imports in the first 11 months of 2025, up from 41.5% in the same period of 2024.

Import value of wooden furniture from Vietnam into the US reached USD 8.14 billion in the first 11 months of 2025, up 0.9% year-on-year.

Meanwhile, US imports from China continued to decline sharply, reaching USD 1.7 billion in the first 11 months of 2025, down 41.1% compared to the same period in 2024, with market share falling to 9.8%. Currently, US imports of wooden furniture from Vietnam are more than 4.6 times higher than those from China.