Timber sector poised for positive momentum in the new year

Posted on December 26, 2023   |  

Wood businesses are seeing good signs with confirmed export orders for the end of the first quarter in important markets like the US and Europe.

Forecasts predict timber and wood product exports to reach $14 billion this year, falling short of the targeted $17 billion.

Despite global economic challenges and tighter consumer budgets, the positive export orders bring some optimism to the industry.

Business representatives highlight that export prices have gone down, and orders are smaller due to stricter technical requirements set by foreign importers.

Local companies are advised to actively expand markets and improve competitiveness, emphasizing products with reasonable prices, consumer appeal, and fair after-sales policies.