Vietnam's exports of timber products fell by 34.8% due to low demand in January-February 2023

Posted on March 27, 2023   |  

In January-February 2023, Vietnam’s exports of timber and wood products fell annually by 34.8% to $1.6 billion due to a fall-off in demand.

In February 2023, exports of wood and wood products in Vietnam fell by 0.7% from January to $800 million, down 10% compared to 2022.

The most significant portion of the decline was due to the exports of wood products, reaching a revenue of $490 million, down 29.7% from 2022.

In 2022, Vietnam hits over $16 billion worth of wood products exports, which is 3.8% above Vietnam’s expectations.

In 2023, the country expects to register $18 billion from wood and wood products exports and aims to reach $1 billion in wood pellets and wood chips.