Vietnam's forestry exports witnessed 45% growth in 2024

 

Forestry products are the most prominent exports of Vietnam. During the first two months of 2024, Vietnam has reported record sales. According to the latest Vietnam import export data, the country's forestry products exports hit a record 2.8 billion dollars. Vietnam's forestry products are progressing at the rate of 45% annually.

In 2023, Vietnam’s overall forestry exports are estimated to be $12 billion. These were mostly wood and its articles. Vietnam export data suggests that over $5.6 billion worth of wood and its articles exports were made during fiscal year 2023. These include wood chips, wood scrap, plywood, bamboo, timber, flooring, laminated wood.

During May 2023, the highest amount of wood export shipments were made, and worth was estimated to be $746 million dollars. China, the United States and Japan were the biggest importers of wood articles from Vietnam in 2023. South Korea, Malaysia, India, Taiwan, Indonesia and Thailand were the fastest growing markets for Vietnam's lumber exports.

Pioneer Furniture Company, Haohungco, and Thanh Thanh Dat were the biggest wood articles export companies from Vietnamresponsible for maximum number of shipments last year. Among the leading import companies from Vietnam were Albany Industries from the United States, International Woodchip Corporation from China and Sojitz from Japan.

In terms of forestry products, Vietnam has imported nearly 1.5 billion dollars during fiscal year 2023. Vietnam import data reflects that In December 2024, the highest amount of wood articles imports with an estimated worth of $219 million. Vietnam’s key forestry products imports include rough wood, sawn wood, plywood, pallets, fibre board, white oak lumber, pinus, sawn timber, etc. 

Vietnam's 25% of the overall wood articles imports came from China. The United States and Cameroon were other prominent wood exporters to Vietnam with 11% and 8%. Whereas, Cameroon, Thailand, Laos, Chile, Belgium and France were the emerging markets for imports by Vietnam. Nam Anh Wood, Vietnam H & M Wood, and Nitori Furniture were the top wood articles import companies from Vietnam.

On the other hand, Linyl Trade from China, Greenfield from the United States and Vanchai Group from Thailand were responsible for the maximum wood articles export shipments to Vietnam last year. In January 2024, the wood articles imports were estimated to be $231 million. China and the United States were the two biggest markets for forestry products imports during last year.

The Vietnamese government is eyeing $15 billion forestry products exports this year. This could be a great opportunity for the Vietnamese companies involved in the forestry industry to expand their exports. Through the assistance from global import export data provider, companies can gain insights over most traded forestry items, price, quantity, trending markets, companies and competitors.

A thorough analysis on global trade information could help companies make business decisions, align their business as per the demand, minimize any financial risk and increase their ROI by finding potential forestry items buyers. This economical approach gives companies extra insights over 200+ countries potential buyers. Also, companies can keep a close eye on their competitors and plan better marketing approaches to outrank them.