Illustrative image
According to preliminary statistics from the General Department of Customs, Vietnam’s timber and wood product imports in August reached over $288 million, a 6.8% decrease compared to July. In the first eight months of the year, the country spent more than $2.1 billion on these imports, a 17.2% increase year-over-year.
China remains Vietnam’s largest timber supplier, with exports valued at over $836 million, up 19% from the same period last year.
The U.S. ranks second with imports exceeding $389 million, an 87% surge compared to the first eight months of 2024. Thailand follows in third place with nearly $94 million, though this reflects a 4% decline year-over-year.
Despite being a major wood exporter, Vietnam heavily relies on imported raw materials. To address this, the government issued Decree 73/2025, amending and reducing preferential import tax rates for several goods, including timber. Effective March 31, import taxes were slashed for items such as automobiles, timber, ethanol, frozen chicken legs, pistachios, almonds, fresh apples, cherries, and dried grapes.
Specifically, for timber and wood products: Group 44.21, which includes wooden items like hangers, yarn spools, fiber tubes, and sewing thread reels, saw import taxes drop from 20-25% to 0%. Similarly, Groups 94.01 and 94.03, covering wooden chairs, chair components, and furniture, also saw taxes reduced to 0%.
In 2024, Vietnam’s timber and wood product imports totaled over $2.81 billion, a 28.1% increase from 2023. Imports of sawn timber, plywood, veneer, and fiberboard surged, with China and the U.S. as the primary suppliers.
Vietnam ranks among the world’s top five wood and wood product exporters, leading ASEAN and second in Asia. It also holds the second position globally for wood pellet exports. As a key player in the global timber market, Vietnam’s wood industry is expanding its reach, deepening penetration in major markets like the U.S., EU, South Korea, and Japan, while increasingly entering emerging markets such as the UAE and India. Vietnamese wood products now reach 170 countries worldwide.
According to the Ministry of Agriculture and Environment’s export plan for the last six months of 2025, timber and wood products face potential export value declines due to challenges. These products are under significant pressure from U.S. tariffs due to their large market share. The 2025 export target for timber and wood products is set at $18.5 billion, a 7% increase from 2024, with $8.4 billion expected in the first half and $10.1 billion in the second half.
