Vietnam expects to resume the export momentum of wood and wood products in the third quarter of 2023
May 18, 2023 Source: Internet
According to recent news from the Vietnamese Ministry of Forestry, Vietnam’s timber and wood products exports reached 4 billion US dollars in the first four months of this year. However, compared to the same period last year, they still decreased by 28.5%. The export of wooden products alone decreased by 36.7% to $2.6 billion.
In terms of imports, in the first four months of this year, Vietnam’s imports of logs and sawn timber only reached 1.3 billion cubic meters, a year-on-year decrease of 25.4%; The import value decreased by 29% year-on-year to $474 million.
Vietnam expected to resume export momentum in the third quarter
Just look at the import and export situation of wood and wood products in April this year.
In April 2023, the import volume of Vietnamese logs and sawn timber increased by 15.4% month on month to 432200 cubic meters, a decrease of 16% compared to April last year; The import value increased by 15% month on month to $155.6 million, a decrease of 22% compared to April last year.
In terms of exports, in April of this year, the estimated export value of Vietnamese wood and wood products reached 1.2 billion US dollars, a month on month increase of 5.5% and a year-on-year decrease of 24.5%. Among them, the estimated export value of wooden products is 820 million US dollars, a month on month increase of 6% and a year-on-year decrease of 28%.
Vietnam expected to resume export momentum in the third quarter
It can be seen that Vietnam’s imports of logs and sawn timber are still affected by the slow recovery of the global market. Although the monthly import volume is recovering, the decline is still significant compared to the same period in 2022. In response, Vietnam stated that at the current growth rate, it is expected that the export of wood and wood products in the first half of 2023 will decrease by about 30% compared to the same period in 2022.
Looking back at Vietnam’s timber imports in the first quarter of this year. In the first three months of this year, Vietnam’s timber imports from markets such as the European Union, the United States, Thailand, New Zealand, Chile, and China showed a year-on-year downward trend, while imports of tropical hardwoods from Cambodia, Congo, Cameroon, Malaysia, Canada, Angola, and Indonesia increased.
Vietnam expected to resume export momentum in the third quarter
The specific import situation is as follows:
From the European Union: Wood imported from the EU accounts for 144000 to 134000 cubic meters of total imports, with a value of 40.8 million US dollars. A year-on-year decrease of 18% in quantity and 20% in value;
From China: Compared to the same period in 2022, the quantity of wood imported from China decreased by 31% to 105900 cubic meters, and the import value decreased by 36% to 51.7 million US dollars, accounting for 11% of the total wood imports;
From Cameroon: The quantity of tropical hardwood imported from Cameroon increased by 6% year-on-year to 144600 cubic meters, and the value increased by 10% year-on-year to 62.6 million US dollars, accounting for 16% of the total timber imports.
Other imports:
Imports from the United States have decreased by 7%;
Imports from Thailand have decreased by 25%;
Imports from Laos have decreased by 12%;
Imports from Chile decreased by 22.7%;
Imports from New Zealand fell by 21%;
Imports from Congo increased by 3%
