Vietnam's exports of timber and wood products fell by 5.5% in July due to low demand

Posted on September 5, 2022   |  

• The US and Europe export markets are facing many challenges and high inflation in many countries forced consumers to cut back on their spending, which decreased the demand for unnecessary goods, including wood products and furniture.
• The miscalculation of global importers led to large accumulations of goods in warehouses and ports in Vietnam and abroad which disrupted the supply chain, and increased production costs due to high raw materials and transport costs.