Wooden product exporters regain growth momentum

Exporters of wooden products regained double digit growth in the first ten months of 2017 after a growth rate of a slight 1.1% last year, said Huynh Van Hanh vice chairman of the HCMC Handicraft and Wood Industry Association
wooden product exporters regain growth momentum

At the Vietnam International Furniture and Home Accessories Fair 2017 (VIFA Home 2017) which kicked off at Phu Tho Indoor Stadium in HCM City recently, Hanh said the high growth rate might be maintained in the final two months of the year.

In January-October, Vietnam exported US$6.21 billion worth of wood and wooden goods, up 11.2% year-on-year, according to the General Department of Vietnam Customs.

Local wood enterprises will boost their exports in the rest of the year, so the sector’s export revenue may reach US$8 billion this year, an increase of 14% over last year.

Vietnamese wooden goods’ quality and designs are highly valued. The country mainly shipped the products to the U.S. (US$2.66 billion), China (US$873 million) and Japan (US$850 million) in the ten-month period.

Many firms have opened new factories and invested heavily in advanced technology to improve their production capacity. They have also employed designers to create new products to increase products’ value.

Vietnam annually spends only US$68 million importing wooden goods, mainly from China.

Domestic wood enterprises have improved their products’ quality and designs, and offered good after-sale services and other services to satisfy customers.

Local demand for wooden products grows by 5-6% a year and most of the products are used in high-end hotels and resorts.

Source: SaigonTimes

Related News

Despite recovery, wood and product exports face new challenges

Despite recovery, wood and product exports face new challenges

VCN - The market is recovering positively, the number of wood orders that businesses receive is increasing, especially with the main export market of the United States, the export value in the first 8 months of the year increased by 26.2% compared to the same period in 2023.
Despite recovery, wood and wood products export face new challenge

Despite recovery, wood and wood products export face new challenge

VCN - The market is recovering positively, the number of wood orders that businesses receive is increasing, especially with the main export market of the United States, the export value in the first 8 months of the year increased by 26.2% compared to the same period in 2023.
Becoming a green hydrogen exporter: Vietnam can elevate its economic position

Becoming a green hydrogen exporter: Vietnam can elevate its economic position

VCN - Beyond its positive environmental impact, the potential of green hydrogen also presents enormous economic opportunities. Dr. Majo George, Senior lecturer in Supply chain management and Logistics at RMIT University, believed that it was time for Vietnam to invest in green hydrogen technology to move towards exporting this energy source.
Wood exports started well

Wood exports started well

VCN - After a year of missing the growth target, the year of 2024 exporting wood and wood products has had a good start, but there are still many potential risks.

Latest News

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.

More News

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%.
Coconut is expected to become a billion-dollar export item

Coconut is expected to become a billion-dollar export item

VCN - Talking to the press at the ceremony to launch the first train carrying fresh coconuts to China, Mr. Luu Van Phi, Director of the Department of Industry and Trade of Tien Giang province, said that Vietnam's agricultural export potential, especially fresh coconuts, is expanding with the appearance of international railway transportation from Song Than station.
Plastic exporters interested in converting to recycling technology

Plastic exporters interested in converting to recycling technology

VCN - The Vietnamese plastics industry is facing major challenges in terms of plastic waste and recycling needs. Secretary General of the Vietnam Plastics Association Huynh Thi My (pictured) shared important information about the transformation in production of plastics enterprises to meet increasing export demands.
Logistics sector must embrace innovative trends to stay competitive

Logistics sector must embrace innovative trends to stay competitive

The Vietnamese logistics industry must adapt to new trends and enhance infrastructure to remain globally competitive, speakers said at an event in Ho Chi Minh City on October 31.
Vietnam’s agro-forestry-aquatic product exports likely to set new record

Vietnam’s agro-forestry-aquatic product exports likely to set new record

Vietnam’s agro-forestry-aquatic product exports are likely to achieve a record high of 62 billion USD in 2024, said Deputy Minister of Agriculture and Rural Development Phung Duc Tien.
UKVFTA greatly benefits Vietnam-UK trade: Experts

UKVFTA greatly benefits Vietnam-UK trade: Experts

The UK-Vietnam Free Trade Agreement (UKVFTA), signed into law three years ago, has clearly benefited trade cooperation between the two countries, particularly in the context of Vietnam’s exports to most other major markets declining due to geopolitical tensions and headwinds in the global economy, said experts at a conference in Hanoi on October 30.
Agricultural exports likely to exceed 60 billion USD amid challenges

Agricultural exports likely to exceed 60 billion USD amid challenges

With swift production recovery and continued growth, Vietnam's agricultural sector could potentially surpass the 60 billion USD export target, according to the Ministry of Agriculture and Rural Development (MARD).
Vietnam-Philippines trade likely to exceed 8 billion USD for first time

Vietnam-Philippines trade likely to exceed 8 billion USD for first time

With the current rising trend, trade between Vietnam and the Philippines is likely to exceed 8 billion USD for the first time to hit about 8.5 billion USD in 2024, with Vietnam’s surplus of more than 3 billion USD, according to the Vietnamese Trade Office in the Philippines.
Read More

Your care

Latest Most read
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 - In recent years, Israel has always been Vietnam's leading tuna export market after the US and the EU. Therefore, the recent escalation of Israel-Iran tensions is affecting Vietnam's tuna exports to this market.
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 countr
Mobile Version