Wood and wood products import and export in 2024 and trend forecast in 2025

Source: goviet.org.vn

The report updates information on the import and export situation of wood and wood products (W&WP) of Vietnam in 2024 and gives some forecasts on the export trends of the main products of the Vietnamese wood industry in 2025.

Export situation in 2024

In 2024, although the Vietnamese wood industry faces challenges including: geopolitical conflicts (the ongoing Russia-Ukraine war, Israel – Hamas, …), the implementation of new regulations (EUDR, Lacey, …), fluctuations in the international market, high and prolonged sea freight rates due to avoiding the route through the Red Sea; but the wood export industry recorded strong growth compared to 2023. According to data from the General Department of Vietnam Customs, the export value of wood and wood products in 2024 is estimated at 16.25 billion USD, an increase of 20.3% compared to 2023. Only calculating the export turnover of G&SP of Vietnam of the two groups of raw wood (HS 44) and wooden furniture (HS 9401 & 9403) in 2024 reached 15.89 billion USD, an increase of 20.1% compared to 2023.

In 2024, Vietnam exported G&SPG to 166 countries and territories around the world, focusing on five main markets: the US, China, South Korea, Japan and the EU. Export turnover in these five markets reached over 13.95 billion USD, accounting for over 87.9% of the total export turnover of the whole industry, maintaining export growth momentum from 4% to 26% compared to 2023 according to each specific market.

Main export markets

In 2024, Vietnam will export to major markets such as: USA: export turnover reaches over 8.8 billion USD, up 23.9% compared to 2023, accounting for 55.5% of total G&SPG export turnover to all markets. China: export turnover reaches over 2.04 billion USD, up 17.9% compared to 2023, accounting for 12.8% of total G&SPG export turnover. Japan: export turnover reaches over 1.72 billion USD, up 3.9% compared to 2023, accounting for 10.8% of total G&SPG export turnover. South Korea: export turnover reaches over 804.05 million USD, up slightly 0.9% compared to 2023, accounting for 5.1% of total G&SPG export turnover. EU: export turnover reached over 574.06 million USD, up 26% compared to 2023, accounting for 3.6% of total G&SPG export turnover. Canada: export turnover reached 248.09 million USD, up 22.3% compared to 2023, accounting for 1.6% of total G&SPG export turnover. Indonesia: export turnover reached over 225.71 million USD, up 160.5% compared to 2023, accounting for 1.4% of total G&SPG export turnover. UK: export turnover reached over 221.29 million USD, up 16% compared to 2023, accounting for 1.4% of total G&SPG export turnover. India: export turnover reached over 216.95 million USD, up 77.8% compared to 2023, accounting for 1.4% of total G&SPG export turnover.

Main export items

The five commodity groups with the largest export turnover in 2024 are: wooden furniture, chairs, wood chips, plywood, and pellets. The export turnover of these five commodity groups reached 14.43 billion USD, accounting for 98.8% of the total export turnover of the wood industry. Wooden furniture (HS 9403): export turnover reached 6.44 billion USD, accounting for 40.5% of total G&SPG export turnover, up 21.5% compared to 2023. Seats (HS 9401): export turnover reached 3.5 billion USD, accounting for 22% of total G&SPG export turnover, down 5.1% compared to 2023. Wood chips (HS 4401.22): export volume reached 18.3 million tons, equivalent to 2.66 billion USD, up 26.9% in volume and 19.8% in value compared to 2023, accounting for 16.7% of total G&SPG export turnover. Plywood/laminated wood: export volume reached over 3.35 million m3, equivalent to 1.03 billion USD, up 20.9% in volume and 16.4% in value compared to 2023, accounting for 6.5% of total G&SPG export turnover. Pellets: export volume reached 6.03 million tons, equivalent to 805.23 million USD, up 29.1% in volume and 18.5% in value compared to 2023, accounting for 5% of total G&SPG export turnover. Peeled wood: export volume reached 1.01 million m3, reaching 248.45 million USD, down 9.3% in volume, but up 13.2% in value compared to 2023, accounting for 1.6% of total G&SPG export turnover.

Import situation in 2024

In 2024, the imported wood industry will reach over 2.81 billion USD, an increase of 28.1% compared to 2023. The G&SPG products imported by Vietnam will all increase in 2024 such as: round wood, sawn timber, plywood, veneer, particle board, fiberboard, plywood, etc.

Main import markets

In 2024, the wood industry imported G&SPG from 119 countries and territories, focusing on 5 main markets: China, the US, Cameroon, Laos and Thailand. The total import turnover from these 5 markets in 2024 reached 1.81 billion USD, accounting for 64.4% of the total import turnover of the wood industry. China: import turnover reached nearly 1.1 billion USD, up 44.4% over the same period in 2023, accounting for 39% of total G&SPG import turnover. US: import turnover reached 316.36 million USD, up 32.9% over 2023, accounting for 11.2% of total G&SPG import turnover. Cameroon: import turnover reached 143 million USD, down 19% compared to 2023, accounting for 5.1% of total G&SPG import turnover. Thailand: import turnover reached 128.03 million USD, up 21.5% compared to 2023, accounting for 4.6% of total G&SPG import turnover. Laos: import turnover reached 126.83 million USD, up 13.8% compared to 2023, accounting for 4.5% of total G&SPG import turnover.

Main import items

In 2024, Vietnam’s total import turnover of G&SPG was 2.81 billion USD. The main import items were: sawn timber (32.8% of total import turnover), round timber (17.7%), veneer/peeled board (11.7%), fiberboard (7.1%), plywood (7.8%), wooden furniture (7.7%), and chairs (7.2%).

Main source : https://goviet.org.vn/bai-viet/xuat-nhap-khau-go-va-san-pham-go-nam-2024-va-nhan-dinh-xu-huong-nam-2025-10280