Vietnam’s wood products trade continues to rise

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ITTO/Fordaq
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According to the General Department of Customs, Vietnam’s exports of wood (especially chips) and wood products in August 2019 continued to rise reaching US$935 million, up 8.2% compared to July 2019.

Exports of manufactured wood products totalled US$671 million in August an almost 6% increase from July. Cumulative export earnings for the first 8 months of 2019 totalled around US$6,613 billion, a 17% rise year on year.

The major export markets were the USA, Japan, China, South Korea and UK. The top 5 markets accounted for around 85% of total exports.

Turning to wood and wood product imports, the General Department of Customs reports that imports in August 2019 dropped for the second consecutive month to US$219 million, an almost 2% fall compared to July 2019.

However, in the first 8 months of 2019 imports totalled US$1.675 billion, up 14.4% over the same period in 2018. The main suppliers in order of rank were China, USA, Thailand, Chile and Brazil.

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