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Vietnam’s wood sector on the path to recovery as orders increase

Vietnam’s wood sector on the path to recovery as orders increase

Posted on October 20, 2023   |  

In September, the export value of wood and wood products was $1.2 billion. This shows a 7% drop from August, but it's 6.7% higher than the same time last year.

The positive outlook for the wood industry is based on promoting developments in the housing market and the increasing demand for interior design in the upcoming year.

Starting from May, the wood industry has been on an upward trend, and it's anticipated that the total revenue for the year could reach $14-14.5 billion.

Order books in the sector are full, extending through Q1 2024 and branches in North America have played a significant role in maintaining orders from their existing clients and expanding collaborations on major projects.

Export orders, which were slow for a while, have turned around, with many coming from countries like Poland, the Netherlands, Germany, Croatia, and Italy.

The wood industry is experiencing a positive resurgence due to growing demand and international project collaborations, and the future holds promise for further success.