Preliminary data from Vietnam Customs show that by the end of November this year, Vietnam's total exports of timber and wood products had reached USD 15.52 billion. Among them, November exports reached USD 1.483 billion, down 3.32 percent from October.

Among November's exports of timber and wood products, the top five destination countries were the United States, China, Japan, South Korea, and Canada. Specifically:

Exports to the United States fell by 2.62 percent

For a long time, the United States has been Vietnam's largest export market for timber and wood products. In November, Vietnam's exports to the United States reached USD 816 million, down 2.62 percent from October. By the end of November, Vietnam had exported timber and timber products worth USD 8.62 billion to the United States this year.

Exports to China have surged for six consecutive months

In terms of timber, including logs and sawn timber, Vietnam exported 58,600 cubic meters to China in November, a sharp increase of 237.4. percent year on year. Since June, Vietnam's year-on-year growth in timber exports to China has exceeded 100 percent every month, achieving six consecutive months of strong growth. November's export volume and growth rate were both the highest of the year.

Analyzing full-year import conditions, China-Vietnam timber trade has shown a strong growth trend, mainly due to increased imports of ash and North American hardwood sawn timber.

Among them, imports of ash sawn timber increased by 43.5. percent compared with the same period last year, reaching a total of 207,000 cubic meters during the year and accounting for 57.5. percent of total imports. Imports of North American hardwood sawn timber increased by nearly 110,000 cubic meters from the same period last year, representing growth of nearly 20 times. During the same period, imports of oak sawn timber increased by more than 17 times, while imports of cherry sawn timber increased by more than 7,000 cubic meters.

It is worth noting that as imports of high-quality hardwood species increased, the average timber unit price also rose. Customs data show that from October to November, the average price of timber imported from Vietnam exceeded USD 700 per cubic meter, with increases ranging from 53.4. percent to 55.6. percent. North American hardwood sawn timber played a major role in driving this price increase, with an average price of more than USD 980 per cubic meter.

Exports to Japan fell by 5.31 percent

In November, Japan imported USD 196 million worth of timber and wood products from Vietnam, down 5.31 percent from October. By the end of November, Vietnam had exported USD 1.958 billion worth of timber and wood products to Japan this year.

Exports to South Korea remained flat

In November, South Korea imported USD 53 million worth of timber and wood products from Vietnam, basically unchanged from October. By the end of November, Vietnam had exported USD 645 million worth of timber and wood products to South Korea this year.

Exports to Canada fell by 18.5. percent

In November, Vietnam's exports of timber and wood products to Canada amounted to USD 22 million. This figure declined from October by 18.5. percent. By the end of November, Vietnam had exported USD 258 million worth of timber and wood products to Canada this year.

Although the timber export industry achieved USD 15.52 billion in exports and exports to China posted strong growth, Vietnam's timber and wood product exports still face challenges amid generally weaker demand in international markets.

At the fifth congress of the Vietnam Timber and Forest Products Association, participating representatives detailed the main difficulties faced by timber manufacturers, such as rising raw material costs, continuously declining sales prices, legal risks in raw material sourcing, and disruptions in the supply chain.

Industry representatives warned that since the beginning of this year, the scale of some export industries represented by wood products has continued to expand, but profit margins have kept narrowing. Trade experts further pointed out that exporters are currently facing stricter requirements regarding sustainable development, environmental protection, and supply chain standards. In addition, many enterprises have not actively taken advantage of the opportunities brought by free trade agreements.

Source: Timber Home