Vietnam’s wood industry gains new foothold in global market

Despite the impacts from the COVID-19 pandemic, wood and wooden product exports still posted impressive growth due to the efforts of many businesses to apply advanced technology, develop new products, and make use of online marketing channels.

Vietnam’s wood industry gains new foothold in global market hinh anh 1

The factory of the Thuan An Wood Processing JSC in Binh Duong province (Photo: VNA)

Despite the impacts from the COVID-19 pandemic, wood and wooden product exports still posted impressive growth due to the efforts of many businesses to apply advanced technology, develop new products, and make use of online marketing channels.

Despite being repeatedly disrupted by the pandemic, the exportation of wood and wooden products still posted growth of over 16 percent in 2020 and the upwards trend continued in the first quarter of 2021.

Forestry shipments neared 4 billion USD from January to March, up 41.5 percent year-on-year. This included almost 3.7 billion USD worth of wood and wooden products and 243 million USD worth of non-wood forestry products, up 41.5 percent and 38.4 percent, respectively, according to the Ministry of Agriculture and Rural Development.

That turned the wood industry into the leading driver of agricultural and forestry exports during the period.

Nguyen Chanh Phuong, Vice Chairman of the Handicraft and Wood Industry Association of Ho Chi Minh City (HAWA), said that by tapping into its production advantages and market opportunities, Vietnam has surpassed Poland, Germany, and Italy to become the world’s second-largest wood and wooden product exporter, behind China.

He explained that the COVID-19 pandemic has hampered global trade, including the export of wood and wooden products, but at the same time created new market opportunities.

The outbreak forced people in many countries and regions, especially the US, the EU, Japan, and the Republic of Korea, which are major importers of Vietnamese wooden items, to be at home more frequently, leading to greater demand for products used in the home.

Many international purchasers, he added, have switched to Vietnamese products as the country has a safe production environment thanks to its successful pandemic control, while producers in many other countries have had to suspend production and close factories.

Vietnam’s wood and furniture businesses are also relatively accomplished at recognising and seizing market opportunities.

Tran Lam Son, director of marketing and quality management at the Thien Minh Furniture company, pointed out that the recent shift in global wood product and furniture supply chains has benefited Vietnam.

International purchasers have increasingly valued the production capacity, design, and technology of Vietnamese wood producers. Moreover, due to supply chain disruptions caused by COVID-19, global distributors now tend to persify and seek safer supply sources, and Vietnam meets their requirements, he went on.

Pham Thi Hong Quang, General Director of the Viet Source Handicraft Co. Ltd, revealed that her company’s revenue soared 40 percent last year despite the tense developments from coronavirus outbreaks at certain points of time. The number of orders in the opening months of this year continued to rise as foreign importers began stockpiling products to prepare for the year-end shopping season.

She noted that after recognising that the pandemic could be a chance for wood and furniture products to grow, her company moved to modernise its factory and technology to improve productivity while developing new products to meet demand.

However, Duong Thi Minh Tue, member of HAWA’s executive board, suggested that as wood industry trade fairs could not take place due to the pandemic, businesses should optimise all possible trade promotion channels, from online to offline, to maintain links with partners.

Phuong also spoke of the need to capitalise on technology and digital transformation to further access buyers, adding that it is also important to promote workplace productivity and manufacture products with clear origin and that are environmentally-friendly, so as to maintain Vietnam’s new foothold in the global wooden product market./.
Source: VNA
en.vietnamplus.vn

Related News

Vietnam and UAE trade sees billion-dollar growth

Vietnam and UAE trade sees billion-dollar growth

VCN - According to General Department of Vietnam Customs by the end of September 2024, bilateral trade between Vietnam and the United Arab Emirates (UAE) reached nearly US$5 billion, an increase of more than US$1.4 billion over the same period last year.
Vietnam

Vietnam's daily import expenditure surpasses VND25,000 billion

VCN - From the beginning of the year to mid-October, on average, Vietnam spent more than USUS$1 billion (equivalent to more than VND25,000 billion) each day importing goods.
Vietnam - UAE trade grows to billions of dollars

Vietnam - UAE trade grows to billions of dollars

VCN - Updated by the General Department of Customs by the end of September 2024, bilateral trade between Vietnam and the United Arab Emirates (UAE) sees a year-on-year increase of more than US$1.4 billion to nearly US$5 billion
Launch of the “Proud of 80 years of construction and development of Vietnam Customs” contest

Launch of the “Proud of 80 years of construction and development of Vietnam Customs” contest

VCN - Towards the 80th anniversary of Vietnam Customs' tradition (September 10, 1945 - September 10, 2025), the General Department of Vietnam Customs (GDVC) launches the “Proud of 80 years of construction and development of Vietnam Customs” contest.

Latest News

Import and export are expected to reach 800 billion USD

Import and export are expected to reach 800 billion USD

VCN - Although the import and export turnover of goods slowed down in September 2024, in general, import and export activities, especially exports, still grew positively in the first 9 months of 2024. It is expected that import and export of goods in 2024 will reach a record of 800 billion USD.
Fresh coconuts quenching new overseas markets

Fresh coconuts quenching new overseas markets

Vietnam’s fresh coconuts are being increasingly consumed in international markets such as the US, China, and the UK, highlighting a bright spot in Vietnam's fruit export sector with many opportunities for breakthroughs in the near future.
Rice exports likely to set new record in 2024

Rice exports likely to set new record in 2024

Vietnam sold 800,000 tonnes of rice overseas for 505 million USD in October, bringing the country's total export volume and value in the first ten months to nearly 7.8 million tonnes and 4.86 billion USD, up 10.2% and 23.4% year-on-year, respectively.
Vietnamese goods conquer halal market through trust and quality

Vietnamese goods conquer halal market through trust and quality

VCN - According to the Ministry of Agriculture and Rural Development, Vietnam's capacity to export over 50 billion USD worth of agricultural products annually, coupled with established supply chains, provides a significant advantage for Vietnamese agricultural and aquatic products to penetrate the Halal market.

More News

Exporters urged to have strategies to take advantage of UKVFTA for expansion

Exporters urged to have strategies to take advantage of UKVFTA for expansion

The UK is concerned by sustainable development, labour issues, environmental protection and social responsibility. Therefore, when exporting to the UK, enterprises should not just be concerned about being competitive in terms of price and quality.
Fresh coconuts quenching new overseas markets

Fresh coconuts quenching new overseas markets

Vietnam’s fresh coconuts are being increasingly consumed in international markets such as the US, China, and the UK, highlighting a bright spot in Vietnam's fruit export sector with many opportunities for breakthroughs in the near future.
Sharing responsibility for ensuring security and safety of the supply chain

Sharing responsibility for ensuring security and safety of the supply chain

VCN – Post - clearance audit is carried out in a planned, focused and key manner, avoiding widespread and ineffective inspections, thereby creating convenience for the business community and improving the effectiveness of state management of customs.
Many factors affecting tuna exports in the last months of the year

Many factors affecting tuna exports in the last months of the year

VCN - Tensions between Israel and Iran escalate, tuna businesses are worried, they may have to stop export orders to the Israeli market in the last months of the year.
Vietnam still dominates Philippine rice import

Vietnam still dominates Philippine rice import

Vietnam continues to assert its dominance as the top rice exporter to the Philippines, with 2.91 million tonnes shipped as of the late October, or over 79% of the Philippines' total rice imports, according to the Vietnam Trade Office in the Philippines.
Vietnam cements ties with partners to engage in global semiconductor, AI industries

Vietnam cements ties with partners to engage in global semiconductor, AI industries

By boosting cooperation with reputable partners across the globe, Vietnam is taking steps to gain a foothold in the world’s semiconductor and artificial intelligence (AI) industries.
Aquatic exports expected to rise in year-end despite challenges

Aquatic exports expected to rise in year-end despite challenges

Aquatic exports is expected to surge in the remaining months of this year, as the year-end festive season comes, despite many challenges in the international markets, according to insiders.
Trade Defense: The Key to Success for Vietnamese Businesses

Trade Defense: The Key to Success for Vietnamese Businesses

VCN - From losses and near bankruptcy, many domestic enterprises have recovered thanks to timely application of trade defense measures. Trade defense is also an effective shield for Vietnamese enterprises against a series of lawsuits from importing countries, thereby maintaining advantages and developing on "away grounds".
Lao Cai Customs sees a triple-digit surge in export-import turnover

Lao Cai Customs sees a triple-digit surge in export-import turnover

VCN - Updated from the beginning of the year to October 24, total import and export turnover through Lao Cai Customs Department increased by 102%.
Read More

Your care

Latest Most read
Import and export are expected to reach 800 billion USD

Import and export are expected to reach 800 billion USD

VCN - At the regular Government meeting in September 2024, Minister of Industry and Trade Nguyen Hong Dien assessed: import and export continued to be a bright spot, recording a positive recovery compared to the same period last year.
Fresh coconuts quenching new overseas markets

Fresh coconuts quenching new overseas markets

Vietnam’s fresh coconuts are being increasingly consumed in international markets such as the US, China, and the UK, highlighting a bright spot in Vietnam's fruit export sector with many opportunities for breakthroughs in the near future.
Rice exports likely to set new record in 2024

Rice exports likely to set new record in 2024

Vietnam sold 800,000 tonnes of rice overseas for 505 million USD in October, bringing the country's total export volume and value in the first ten months to nearly 7.8 million tonnes and 4.86 billion USD, up 10.2% and 23.4% year-on-year, respectively.
Vietnamese goods conquer halal market through trust and quality

Vietnamese goods conquer halal market through trust and quality

According to the Ministry of Agriculture and Rural Development, Vietnamese agricultural and aquatic products could penetrate the Halal market.
Exporters urged to have strategies to take advantage of UKVFTA for expansion

Exporters urged to have strategies to take advantage of UKVFTA for expansion

The UK is concerned by sustainable development, labour issues, environmental protection and social responsibility. Therefore, when exporting to the UK, enterprises should not just be concerned about being competitive in terms of price and quality.
Mobile Version