Wood exports are decelerating

DNHN - In the first 5 months of 2022, the export of wood and forest products was favourable, but in June, the export value turned back to decrease. The General Department of Forestry is coordinating with associations in the wood industry to solve the problem of enterprises' raw materials.

According to the General Department of Customs, the export value of wood and wood products in June 2022 is estimated at 1.5 billion USD, down 4.9% compared to June 2021. In, the export of wood products in June 2022 was estimated at 1.03 billion USD, down 18.1% compared to June 2021. In general, in the first 6 months of 2022, the export value of wood and wood products is estimated at 8.5 billion USD, up 2.8% over the same period in 2021. Which, the export of wood products is estimated at 6.14 billion USD, down 4.6% over the same period in 2021.

Wooden furniture is the main export item in the structure of wood and wood products in the first 5 months of 2022, however, the export value of this item decreased, due to the slowing down trend in increasing demand in the global market.

The reason given by the Import-Export Department (Ministry of Industry and Trade) is due to the impact of the epidemic situation, the "zero Covid" policy in China as well as the high input costs due to the impact of the conflict between Russia and Ukraine, causing many countries to face high inflation, so consumers have to tighten their spending, the demand for non-essential goods decreases, including wood products and wood products. Therefore, the export value of Vietnam's wood and wood products in the first half of 2022 decelerated.

Regarding the problem that the wood industry is facing, Mr Nguyen Quoc Tri - General Director of the General Department of Forestry (Ministry of Agriculture and Rural Development) said that in the first 5 months of 2022, the export situation of wood products and forest products were favourable, but in June, the export value dropped. The General Department of Forestry will coordinate with associations in the wood industry to solve the problem of enterprises' raw materials.

According to Mr Do Xuan Lap - Chairman of the Vietnam Timber and Forest Products Association, the problem for the wood industry today is how Vietnam can develop a large domestic source of raw wood, which has quality, species diversity and sustainability? These are very urgent questions that the industry needs to solve shortly if we want to maintain its competitive advantage of the industry.

PV