Vietnam’s Wood Export Industry Shows Strong Performance and Future Prospects
According to a report by the Ministry of Agriculture and Environment, the export value of wood and wood products in February this year is estimated to reach 1.1 billion USD. The cumulative total export value of wood and wood products in the first two months of the year reached 2.52 billion USD, an increase of 12.4% compared to the same period in 2024.
The United States is the largest consumer market for Vietnam’s wood and wood products, accounting for a 55% market share. Japan and China are the next two largest markets, with respective shares of 11.7% and 9.8%. Compared to the previous year, the export value of wood and wood products in January to the US market decreased by 4.8%, the Chinese market by 17.5%, while the Japanese market increased by 2.8%.
Among the top 15 export markets, the value of wood and wood product exports increased the most in the Indian market with a rise of 81.6% and decreased the most in the Dutch market with a drop of 56.6%.
Vietnam currently has official relations with 189 out of 193 countries and territories (including 20 strategic partners, comprising 11 comprehensive strategic partners and 12 comprehensive partners). This extensive network spans across continents and includes key markets for Vietnam’s wood and wood product exports, such as the US, EU, and Japan. These relationships provide tariff advantages and expand opportunities for Vietnamese wood and wood products.
 In just the first two months, wood exports brought in 2.52 billion USD. Illustration: moit.gov.vn. |
The Forestry and Forest Management Department of the Ministry of Agriculture and Environment reported that in 2024, despite numerous challenges, Vietnam maintained its position as one of the world’s largest wood exporters, with an estimated value of 17.35 billion USD (an increase of 19.9% compared to 2023). The surplus value of the wood industry in 2024 reached 14.50 billion USD, accounting for about 80% of the agricultural sector’s surplus and nearly 60% of the country’s total surplus.
This year, the export of wood and wood products continues to be a bright spot in the forestry industry as Vietnam sustains its growth momentum towards becoming one of the world’s largest wood exporters. Accordingly, the wood and wood products sector sets an export target of 18 billion USD, an increase of 10.6% compared to the actual performance in 2024.
The Forestry and Forest Management Department has set a goal that by 2030, the export value of wood and wood products will reach 23-25 billion USD, and domestic consumption will exceed 6 billion USD. To achieve this, the department aims to plant 345,000 hectares of forest annually. As a result, the Forestry and Forest Management Department and the Vietnamese forestry sector have actively worked towards restoring forest cover. From the lowest levels in the 1990s, when forest cover was only 27%, it has now reached approximately 42%.
Kirin Capital recently published a report on Vietnam’s Wood Industry Outlook for 2025, providing insights and assessments of the industry’s potential for the year.
According to the report, there is still significant room for growth in wood and wood product exports, but Vietnamese businesses also face intense competition from countries with similar geographical advantages, such as China, Malaysia, and Indonesia. This competition underscores the need for Vietnamese wood products to enhance their quality, diversify designs, and ensure legal traceability.
However, to maximize the opportunities, businesses must invest in modern production technology, improve product quality, and build reputable brands. Emphasizing sustainable sourcing and environmental protection is also crucial for long-term success in this promising market.
Thanh Huyen
– 10:11 08/03/2025
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