Export of wood and wood products brought in $6.6 billion for Vietnam in the first 5 months of the year

BizLIVE – In the US market, Vietnam has surpassed China to become the largest supplier of wooden furniture in the US market.

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According to the Import-Export Department – Ministry of Industry and Trade, the export of wood and wood products in May 2021 is estimated at 1.4 billion USD, up 80.3% compared to May 2020. In which, the export of wood products is estimated at 1.08 billion USD, up 95.8% compared to May 2020.

In the first 5 months of 2021, the export of wood and wood products is estimated at 6.6 billion USD, up 61.3% over the same period in 2020. In which, the export of wood products is estimated at 5.1 billion USD. , up 79.4% over the same period in 2020.

In the first 4 months of 2021, wooden furniture exports reached 3.68 billion USD, up 80.7% over the same period in 2020, accounting for 70.8% of the total export value of wood and wood products, up 9.4 percentage points over the same period in 2020. In which, wooden frame chairs, living room and dining room furniture, bedroom furniture are the main export items accounting for a high proportion.

In addition, in the first 4 months of 2021, there are a number of other exported wood products and wood products such as: wood chips, wood, planks and flooring, wooden doors, fine art furniture… most of the export items. all achieved high growth rates, only wood chips increased slowly. The export value of wood chips in the first 4 months of 2021 reached 623.3 million USD, up 6.6% over the same period in 2020.

Main export market

According to statistics of the General Department of Customs, the export value of wood and wood products in April 2021 reached 1.4 billion USD, up 100% compared to April 2020. In the first 4 months of 2021, the export value of wood and wood products reached 5.2 billion USD, up 56.8% over the same period in 2020.

The main export markets for wood and wood products in the first 4 months of 2021 are:

The US market led with a turnover of 3.12 billion USD, up 95.4% over the same period in 2021, accounting for 60%; Next is the Chinese market, with a turnover of 526.70 million USD, up 17.1% over the same period last year, accounting for 10.1%.

The third is the Japanese market, with 472.56 million USD, up 8% over the same period last year, accounting for 9.1%; South Korea was US$239.26 million, up 9.7% over the same period in 2020, accounting for 5.6% and the fifth was the UK market with a turnover of US$92,011 million, up 26.5% over the same period in 2020, etc.

Export market of wood and wood products in April and the first 4 months of 2021

Source: Import and Export Department

According to the Import-Export Department, most of the wood and wood products exported to the main markets increased in the first 4 months of 2021. In which, the export of wood and wood products to the US market increased very strongly, reaching 3 .12 billion USD, an increase of nearly 100% over the same period in 2020. The proportion of exports to the United States expanded by 11.8 percentage points over the same period in 2020.

Overcoming China, Vietnam becomes the largest exporter of wooden furniture to the US market

The rapid growth of exports to markets is bringing many risks to the wood industry. In the US market, Vietnam has surpassed China to become the largest supplier of wooden furniture in the US market.

According to data from the General Department of Vietnam Customs, the United States is the main export market of Vietnam’s wood and furniture, accounting for over 60% of the total volume of goods that Vietnam exports to the world in the first three months of 2021.

According to data from Furniture Today – a prestigious newspaper on the furniture industry in the US, Vietnam exported more than $1.4 billion of furniture to the US market in 2020, an increase of 31% over the previous year. 2019.

“Vietnam is emerging as a major force in the furniture industry amid the US imposing tariffs of up to 25% on most Chinese wooden furniture products in the past 2.5 years, since the former President President Donald Trump started a trade war with Beijing in July 2018,” the newspaper said.

Since October 2020, the US Trade Agency has opened an investigation into allegations of illegal logging by Vietnam because it believes that Vietnam has used illegal wood in wood products exported to the US. harmful to the environment and unfair to American workers and businesses that are only allowed to use legally harvested timber.

After the US market, the export turnover to the Canadian market increased rapidly to 58.3% over the same period in 2020, making the Vietnamese wood industry put into the “target” of the Canadian trade agency.

Specifically, from May 5, in addition to 7 foreign-invested enterprises in Vietnam, Canada has imposed dumping tax and subsidies on upholstered seats from 17.44% to 89.77%, all remaining companies when exporting this item to Canada are subject to a tax rate of 101.5%.

In the context of the Covid-19 epidemic, which continues to break out strongly, Vietnam’s export of goods is still growing well, in which wood and wood products are the key export products with a high growth rate. high.
However, in addition to the high cost of products due to the disruption of the supply of raw materials due to the Covid-19 epidemic, causing the price of wood materials to increase sharply, affecting the profits of enterprises, the importation of countries in Technical barriers are a big obstacle for Vietnam’s wood industry.

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