The number of orders in the major wood markets has dropped by more than 40%

DNHN - Surveys of businesses that directly sell on the US market show that 33 of these businesses saw their sales on this market drop by an average of 39.6% in the first three months of 2022.

The Research Group of Wood Industry Associations and Associations, which includes VIFOREST, FPA Binh Dinh, HAWA, BIFA, and Forest Trends, just put out a report called "Changes in the Export Market of the Wood Industry: From a Business Perspective." The report shows that 45 of the 52 businesses in the wood industry that took part in the survey export furniture to the United States. This is also the market where companies' export markets have changed the most over the past few years.

Surveys of businesses that directly sell in the US market show that in the first three months of 2022, 33 of these businesses saw their sales from the US market drop by an average of 39.6%. There was a wide range of revenue drops, from at least 8% for some businesses to as much as 80% for others. However, 10 businesses have seen their revenue go up in the first few months of 2022. 11% is the average rise.

In the main markets, orders for wood fell by more than 40%.
In the main markets, orders for wood fell by more than 40%.

39 of the 52 businesses that were interviewed sell their goods on the EU market. In the first few months of 2022, exports were a big part of this group of businesses' income.

In fact, 24 businesses saw their income drop in the first few months of the year by 42.2%. Which, a lot of businesses have lost all of their income from this market in the past few months; Averagely, the export revenue of 4 companies to the EU market went up by 14%;

Out of the 52 businesses that were asked, 26 export directly to the UK market. Businesses that sold goods on this market had trouble in the first few months of 2022. In particular, 17 of the 26 businesses that export wood to the UK and were mentioned above saw their export revenue to the UK drop by an average of 42.8%.

In addition to the US, UK, and EU markets, 28 of the 52 companies that took part in the survey have sent wooden furniture to Japan, Singapore, Australia, Canada, Korea, New Zealand, China, and other places. In the first few months of 2022, the export situation in other markets was similar to what was happening in the main export markets. But the amount of attenuation is small.

More than 80% of the 52 businesses that took part in the survey think their revenue will be lower in 2022 than in 2021. In particular, 19 businesses expect a drop in sales of less than 30%, 13 businesses expect a drop of between 30% and 50%, and 10 businesses expect a drop of over 50%. Only three businesses think that their sales will go up by 10–20% in 2022 compared to 2021. The other seven businesses expect to make the same amount of money in 2022 as they did in 2021.

Over 90% of the businesses that were polled said that the number of orders had dropped sharply compared to the same time in 2021, with an average drop of 44.4%. Only 3 businesses, or 6% of the total number of businesses that took part in the survey, had a small increase in order volume, with an average increase of 18.3%.

PV

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