Export of wood and wood products from Vietnam hit a record in March 2017

Vietnam Timber and Forest Product Association (VIFORES) informed that in March 2017, the country’s export turnover of wood and wood products (timber and wood products) hit a record against the same period in previous years.

According to the statistics from the General Department of Vietnam Customs, Vietnam’s export turnover of wood and timber products in March 2017 marked record high of USD 713 million, 57% more than last months and a 22.31% increase compared to the same period in 2016. In which, the export turnover of wood products valued USD 518 million, up 66.4% as compared with that in February 2016 and up 22% against the same period in 2016.

In the first quarter of 2017, Vietnam’s export value of wood and timber products was USD 1.78 billion, an increase of 17.1% compared with the same period of 2016. In which, the export turnover of wood products reached USD 1.29 billion, up 14.3% compared with the same period of 2016, accounted for 72.64% of total export turnover of timber and wood products in the whole country and down 74.43% in comparison with the same period of 2016.

Exports from Vietnam in March 2017
Source: General Department of Vietnam Customs

According to the VIFORES’ data in March 2017, Vietnam export turnover of timber and wood products which hit a record with the strongest increase the US was china and Germany, with an increase of 75.93% and 47.85% over the previous month. Besides, the timber and wood products exports to another two key markets such as the US and Japan significantly increased by 22.68% and 17.49% compared with February 2017.

In the first quarter of 2017, the US was continuously the largest export market of timber and wood products in Vietnam, reached over USD 691 million, up 15.96% over the same period last year, accounted for 39% of total export turnover of timber and wood products in the whole country. Besides, the timber and wood products exports to mostly other key markets such as china, Japan, Korea, Germany and Australia increased compared with the same period in 2016, only the UK market was down 8.1% in comparison with the same period of 2016.

Earlier Japan Pulp and Paper Company establishes a representative office in Vietnam.

Source: General Department of Vietnam Customs, VIFORES, Woodbizforum