U.S. wood market rebounds with a 7% increase in exports in 2023

Posted on November 3, 2023   |  

The total export value of wood and wooden products reached $9.6 billion in the first 9 months of 2023, showing a 21.8% decrease compared to 2022.

In September 2023, there was a gradual recovery in wood and wooden product exports to the US, with a 7.5% increase compared to September 2022, reaching a total of $616.9 million.

Over the first 9 months of the year, wood and wooden product exports to the US reached $5.2 billion, representing a 24.2% decline compared to the previous year. 

However, the rate of decline is slowing as the US market's demand gradually increases.

The Import-Export Department emphasizes that the recovery of the US market plays a crucial role in promoting the growth of the wood industry in the later months of the year, as it contributes to 53.7% of the country's total wood and wooden product export value.

During the same period, wood and wooden products were primarily exported to Japan, with a total value of $1.26 billion, followed by China with exports worth $1.23 billion.

The wood industry is optimistic about its prospects as the US market continues to rebound, and it maintains strong trade relationships with Japan and China.