Vietnam was the world’s fourth-largest wood and wooden product exporter in 2015, after China, Germany and Italy. In 2015 export turnover reached $6.9 billion, up 10.7 percent compared to 2014, and is expected to stand at $7.2 million to $7.3 billion this year, for growth of 8 to 10 percent.

According to the Ho Chi Minh City Handicraft and Wood Industry Association (HAWA), the export of wood and wooden products saw better performance than other key export sectors.

The US, China, Japan and the EU remained the largest markets.

Wooden furniture accounted for the most exports. Labor-intensive products previously dominated the market but enterprises have now become involved in product design, accelerated the application of advanced technology in processing, and improved management skills and services.

Figures from the Vietnam Timber and Forest Product Association show that in 2000 there were only 741 wood and wooden product enterprises in the country but the number has now increased to 3,934.

Many large-scale wood processing and export centers have been established in Ho Chi Minh City, Binh Duong, Binh Dinh, and Dong Nai provinces.

Given its potential the wood and wooden products processing industry is one of Vietnam’s most valuable export industries.

Timber exports are expected to grow strongly later this year, with a Voluntary Partnership Agreement (VPA) strengthening forestry law enforcement, forestry governance, and forestry product trade between Vietnam and the EU now being negotiated with signing imminent. The agreement represents a great opportunity for Vietnam’s wood industry to expand its scale and export markets.

Source: Tue Lam – Vietnam Economic Time