Many major markets recovered, timber and wood product exports increased sharply in Q1
- 173
- Business
- 15:47 05/04/2024
DNHN - Timber industry businesses accelerate production to meet export schedules, opening up positive signals and bringing expectations for the Vietnamese timber industry in 2024.
Preliminary statistics from the General Department of Customs show that the export value of timber and wood products in March 2024 is estimated to reach 1.12 billion USD, an increase of 46.3% compared to February 2024, but a decrease of 1.9% compared to March 2023. Of which, the export value of wood products is estimated to reach 749 million USD, an increase of 57.8% compared to February 2024, but a decrease of 3.9% compared to March 2023.
In the first three months of 2024, timber and wood product exports are estimated to reach 3.4 billion USD, an increase of 18.9% compared to the same period in 2023. Of which, the export value of wood products is estimated to reach 2.3 billion USD, an increase of 22.9% compared to the same period in 2023.

According to the Import and Export Department (Ministry of Industry and Trade) and the Industrial and Trade Information Centre, the favourable start in the first months of the year with increasing orders and timber industry businesses accelerating production to meet export schedules has opened up positive signals and brought expectations for the Vietnamese timber industry in 2024.
In particular, the demand in major markets such as the United States, China, Canada, the United Kingdom and markets in the EU bloc is recovering, bringing optimism to Vietnam’s timber export industry.
In terms of export market structure, the United States continues to be the largest destination for Vietnamese timber products. In the first two months of 2024, the export value to the United States accounted for 53.2% of the total export turnover of timber and wood products, reaching 1.2 billion USD, an increase of 51.7% compared to the same period in 2023.
However, the over-reliance on the US market increases the risk for the timber industry. Therefore, diversifying export markets will minimise risks and enhance the sustainability of the timber industry. In addition, improving product design and models will also help attract more international customers.
Besides the US market, timber and wood products are also exported to some other markets with high growth rates in the first two months of 2024, specifically exports to the Chinese market reached 306.3 million USD, an increase of 25.3% compared to the same period in 2023. Next is the Canadian market at 36 million USD, an increase of 47.4%; the UK at 32.8 million USD, an increase of 35.2%; the Netherlands at 23.2 million USD, an increase of 46.9%; and France at 22.1 million USD, an increase of 26.7%.

Although the signals at the beginning of 2024 are quite optimistic, timber export businesses are facing new difficulties. If the tension in the Red Sea continues, freight rates will increase.
In this context, Mr Tran Quoc Manh, Vice Chairman of the Handicraft and Wood Industry Association of Vietnam, said that many businesses in the industry have proactively coordinated with foreign customers to produce new models with their brands to capture the target market. Many new markets such as China, India, Malaysia, Cambodia, Singapore, Laos, Indonesia, and the Philippines are being exploited by timber and wood product export businesses and are achieving quite good growth.
Mr Nguyen Quoc Khanh, Chairman of the Handicraft and Wood Industry Association of Ho Chi Minh City (HAWA), said that the association’s members are focusing on contributing to the industry’s transition from Original Equipment Manufacturing (OEM) to developing their Original Design Manufacturing (ODM) to enhance the value of “made in Vietnam” products.
The HAWA representative also affirmed that the Vietnamese wood processing and furniture industry is currently one of the industries with the largest trade surplus in the country. Even in 2023, despite difficulties and a decrease in export turnover, the timber industry still brought in a trade surplus of more than 10 billion USD.
P.V
Related news
- Shark Nguyễn Hòa Bình: Hanoi will become the capital of startup innovation.
- Deputy Prime Minister Lê Thành Long meets with Osaka Governor Yoshimura Hirofumi to promote Vietnam–Japan cooperation.
- The master sales secrets of luxury king Bernard Arnault that make the world spend
- White House: When politics and technology join forces to rewrite the global AI order
- Da Nang proposes semiconductor cooperation with Oregon (USA)
- Quang Tri calls for investment in wind power plant project worth over VND 1,100 billion
- Hanoi receives two million visitors during the four-day National Day holidays
- Multiple MoUs signed in Da Nang to boost semiconductor development
- UNDP Resident Representative hails Vietnam as an emerging economic powerhouse
- How the UAE Transformed from Oil Wealth to AI Leadership?
- Success in business is always a human story
- Mr. Le Viet Thang, CEO of 1Office: "Don’t use old solutions for new ai challenges"
- VinFast: a strategic pivot amid the green industry storm?
- 127 high-value projects post-merger: Ho Chi Minh City rolls out the red carpet for strategic investors
- Pakistani Ambassador to Vietnam: “Peace and unity are the strength to build the future.”
- Vietnam's Semiconductor Leap: Five Strategic Policies to Reach 2027 Goal
- What’s Vietnam’s game plan as President Trump pressures the Fed?
- SK Innovation and HD Hyundai (South Korea) step up cooperation with Khánh Hòa Province (Vietnam)
- Quang Tri attracts $96.5 mln in new projects in July
- HDBank secures USD 215 million syndicated loan from JICA, SMBC, and FinDev Canada
Đọc thêm Business
Deputy Prime Minister Lê Thành Long meets with Osaka Governor Yoshimura Hirofumi to promote Vietnam–Japan cooperation.
As part of his working visit to Japan and participation in the Vietnam National Day at EXPO 2025 Osaka, on September 8, Deputy Prime Minister Lê Thành Long held talks with Osaka Governor Yoshimura Hirofumi.
Larry Ellison’s lesson: Enduring success starts with fixing the market’s pain points
As of today, Larry Ellison has risen to become the world’s second-richest billionaire with a fortune of nearly $260 billion, surpassing familiar names such as Jeff Bezos and Warren Buffett.
The master sales secrets of luxury king Bernard Arnault that make the world spend
Billionaire Bernard Arnault, Chairman of LVMH (Moët Hennessy Louis Vuitton), controls more than 70 of the world’s most prestigious luxury brands, from Louis Vuitton and Dior to Moët & Chandon and Bulgari.
White House: When politics and technology join forces to rewrite the global AI order
The White House became the epicenter of global attention as U.S. President Donald Trump and First Lady Melania Trump hosted a high-profile state dinner, bringing together more than 20 of the most powerful leaders in technology and American business.
Warren Buffett: The contrarian billionaire – What can Vietnamese entrepreneurs learn?
Warren Buffett has never invented a piece of technology, created a product that changed the world, or relied on social media.
Vietnam Golf Course Owners Summit 2025: Driving sustainable growth in golf tourism and golf economy in Vietnam
Vietnam Golf Course Owners Summit2025 (VNGOS 2025), focusing on the sustainable development of golf tourism and the golf economy in Vietnam, will be held for the first time on October 30 - 31, 2025, at Laguna Lăng Cô Resort, Hue City.
President Luong Cuong’s visit to China: A message of Vietnam’s diplomacy
From September 2 to 4, 2025, President Luong Cuong led a high-level Vietnamese delegation to attend the 80th anniversary of the world’s victory over fascism and to carry out a series of high-level diplomatic activities in China.
Prof. Dr. Huynh Van Chuong: A strategy to elevate Vietnam’s education on the global stage
On the occasion of the 80th anniversary of Vietnam’s education sector and the opening of the 2025–2026 academic year, Professor Huynh Van Chuong shared insights on key achievements in education quality management.
General Secretary To Lam: Investing in education is investing in the future.
The new academic year 2025–2026 officially began, marking the start of a new phase in Vietnam’s education: humanistic, globally integrated, innovative, and reaching outward to stand shoulder-to-shoulder with the world’s leading nations.
Hanoi Party Secretary Bui Thi Minh Hoai: “Hanoi 2025 – space of tradition and creativity” embodies the capital’s aspiration to rise
On the morning of September 1, a delegation of Hanoi’s Party Committee, People’s Council, People’s Committee, and the Vietnam Fatherland Front Committee was led by Party Secretary Bui Thi Minh Hoai.