Vietnam wood industry report Q2/2022
Import
Import of wood materials plummeted in the first 5 months of 2022
In which, three-quarters of the main markets such as the US, Cameroon, and Papua New Guinea continued to decline, due to unresolved problems related to global logistics activities, while fuel costs and transportation costs continued to decline. continue to increase.
Export
Export of wood materials grew in the first 6 months of the year. It is estimated that the export turnover of wood materials in the first 6 months of 2022 will grow by 11.2% compared to the same period in 2021.
But in the US and China markets, wooden furniture exports to the US and China both fell sharply. In China, due to the impact of the epidemic situation, the “Zero Covid” policy, while in the US market, high inflation caused consumers to tighten their spending.
Prospects
In the second half of the year, the demand for raw wood is usually higher than in the first half of the year, so the amount of wood
Imported raw materials are forecast to increase in the second half of 2022. However, the cost of raw wood in
The high level makes wood businesses will face many risks because of the lack of raw wood for production, although
Export orders are still available. Domestic demand for wood and wood products will have a positive influence from
domestic construction industry growth. According to BMI’s forecast, the domestic construction industry will grow positively at 7.9% in 2022.
Vietnam’s exports of wood and wood products in the whole year of 2022 are forecast to be at the same level.
