The Magic Money Trees of Vietnam: A Multi-Billion Dollar Industry with Global Appeal

Vietnam boasts a long-standing tradition of eco-friendly handicrafts made from bamboo and rattan, which has become a significant export industry.

According to the General Department of Vietnam Customs, in May 2025, exports of bamboo, rattan, and mats reached nearly $80 million, a 1.1% increase compared to the same period in 2024.

For the first five months of the year, exports of these products exceeded $368 million, an 8.7% rise year-on-year.

The United States remains Vietnam’s largest export market for these goods, with exports totaling over $171 million in the first five months, a 25% increase from the previous year, accounting for 46% of the total. Notably, exports to the US in May 2025 surged by 37% compared to May 2024.

The UK was the second-largest market, generating $21.6 million in the same period, a 5.2% increase year-on-year, and accounting for nearly 6% of the total.

Japan ranked third, with exports totaling $21 million, a slight 0.5% increase from 2024, making up 5.7% of the total.

According to the Forestry General Department, bamboo and rattan products are the highest-value export among non-timber forest products. In 2023, exports of these products brought in over $733 million to Vietnam. Together with China, Vietnam is one of the top five exporters of bamboo and rattan products globally.

The bamboo industry is gaining global popularity, especially in interior design and home decor. The growing trend towards eco-friendly and sustainable living is attracting consumers worldwide and presenting business opportunities for Vietnamese enterprises and craft villages. China is also ‘reviving’ its bamboo forests to replace plastic.

The Vietnam Handicraft Exporters Association reports that in the last five years, there has been an increase in visitors from the US, Europe, and Japan, who come to Vietnam, place orders, and produce samples after visiting factories.

This is due to the aesthetic appeal, quality, and competitive pricing of Vietnamese bamboo, rattan, and mat products compared to those from Indonesia, Thailand, and Malaysia.

The association believes that Vietnam is among the largest exporters of these products and forecasts a 10-15% global market share as a feasible goal. With an average annual growth rate of 29.5%, the industry could bring in billions of dollars as the global bamboo market is expected to reach nearly $83 billion by 2028.

Vietnam has a vast bamboo resource, with 1.5 million hectares of bamboo forests spread across the country, including 37 out of 63 provinces having over 10,000 hectares each. The country boasts a diverse range of bamboo species, including economically valuable ones such as luong, lung, truc sao, lo o, buong, tam von, and tre gai.

Notably, there are over 1,000 bamboo and rattan craft villages in Vietnam, accounting for 24% of all handicraft craft villages. The Northern and Central regions specialize in bamboo, rattan, and leaf products, while the Western region focuses on products made from beo tay and la buong.