Wood industry aims at US$16 billion in export earnings this year

In the initial 10 months of this year, the export turnover of Vietnam’s wood industry reached US$13.2 billion, an increase of nearly 21% compared to the same period last year.

The United States was a major consumer of Vietnamese wood and wood products, accounting for more than 55% of the industry’s total export value. The market has high demand for both premium and affordable products, creating opportunities for small businesses to find market segments for their goods in the US.

Do Xuan Lap, president of the Vietnam Timber and Forest Products Association (VIFORES), shared that alongside the increasing market demand, wood businesses should proactively switch to environmentally friendly materials and recycled resources, which not only save costs but also meet new customer requirements.

“Building a strong market is essential for boosting export sales, especially in promoting and connecting markets. Organizing wood industry trade fairs creates business opportunities and allows Vietnamese companies to connect with international customers. If exports reach US$3 billion in the last two months of the year, the wood industry will achieve approximately US$16 billion in export turnover for the entire year,” said Lap.