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Preliminary statistics from the Customs Department reveal that Vietnam’s imports of wood and wood products in July reached over $309 million, a 4.5% increase from the previous month. Cumulatively, in the first seven months of 2025, the country spent $1.8 billion on importing these items, marking a 19.1% rise compared to the same period in 2024.
In terms of market sources, China emerged as Vietnam’s largest wood supplier during this period, with a trade value of $731 million, reflecting a 20% increase from 2024.
The United States ranked second, with imports totaling over $328 million, a significant 82% surge compared to the same period in 2024. Thailand, Vietnam’s third-largest wood supplier, contributed more than $80 million worth of wood and wood products, despite a 2.5% decrease from the previous year.
Despite being a significant wood exporter, Vietnam relies heavily on imported raw materials for its wood industry. To regulate the sector, the government issued Decree 73/2025, amending and supplementing import tax rates for certain products, including wood. As a result, import taxes were uniformly reduced for various items, such as automobiles, wood, ethanol, frozen chicken legs, chestnuts, almonds, fresh apples, cherries, and raisins. The decree came into effect on March 31.
Specifically, for wood and wood products, the following changes were made: Group 44.21, encompassing wooden products like clothes hangers, thread spools, and matchsticks, saw a reduction in import tax from 20-25% to a uniform rate of 0%. Similarly, Groups 94.01 and 94.03, which include wooden chairs and furniture, also benefited from a tax cut to 0%.
2023 marked a significant milestone for Vietnam’s wood industry as the country entered the top five global exporters of wood and wood products, ranking second in Asia and first in Southeast Asia. Vietnamese wood products reached nearly 170 countries and territories.
According to the Vietnam Timber and Forest Product Association, the wood industry’s export turnover in 2024 reached $15.89 billion, a 20.1% increase compared to 2023. Five product groups accounted for the majority of these exports: wooden furniture (excluding seats), seats, wood chips, plywood, and pellets.
Assessments by the Department of Forestry under the Ministry of Agriculture and Environment predict a positive outlook for Vietnam’s wood and wood product exports in 2025. However, achieving the $18 billion export target depends on multiple factors, including global economic recovery, consumer demand in major markets, trade policies, and the competitiveness of businesses within the industry. Currently, the Vietnamese wood industry faces challenges in terms of internal capacity and international competitiveness. Additionally, tax policies imposed by importing markets present obstacles that businesses must actively address and overcome.
