Vietnam's wood product exports rise sharply in March

April 16, 2024
Source:
ITTO/Fordaq
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According to Vietnam Customs Office, in March 2024 Vietnam’s wood and wood product (W&WP) exports were worth US$1.12 billion, up 46% compared to February 2024 but down 2% compared to March 2023. In particular, exports of wood products contributed US$749 million, up 58% compared to February 2024, but down 4% compared to March 2023.

Generally, over the first 3 months of 2024 W&WP exports earned US$3.4 billion, up 19% over the same period in 2023. WP exports, in particular, accounted for US$2.3 billion, up 23% over the same period in 2023.

Vietnam’s W&WP imports in March 2024 stood at US$190.0 million, up 55% compared to February 2024. However, compared to March 2023 they were down 2%. In the first 3 months of 2024 W&WP imports were recorded at US$532 million, up 15% over the same period in 2022.

Vietnam's imports of wood raw materials in March 2024 amounted to 446,200 cu.m, worth US$145.0 million, up 70% in volume and 71% in value compared to February 2024. Compared to March 2023 imports increased by 19% in volume and 7% in value.

In the first 3 months of 2024 imports of wood raw materials were estimated at 1.143 million cu.m, worth US$373.7 million, up 23% in volume and 10% in value over the same period in 2023.

Vietnam’s NTFP exports in March 2024 showed the highest level over the past 2 years reaching US$85 million, up 80% compared to February 2024 and up 35% over the same period in 2023. Generally, in the first 3 months of 2024 NTFP exports earned US$212.07 million, up 28% over the same period in 2023.

W&WP exports to the US in March 2024 were valued at US$555 million, up 50% compared to February 2024 but down 8% compared to March 2023. In the first 3 months of 2024, W&WP exports to the US earned about US$1.7 billion, up 26% over the same period in 2023.

Vietnam’s woodchip exports in March 2024 were recorded at US$250 million, up 38 compared to February 2024 and up 38 compared to March 2023. In the first 3 months of 2024 woodchip exports earned US$648 million, up 23% over the same period in 2023.