Vietnam Wood Industry Report Q3/2022
Import of wood products in the third quarter of 2022
The volume of imported wood materials in the first 5 months of 2022 decreased sharply compared to the same period in 2021 due to unresolved problems related to global logistics activities, while fuel costs, transportation costs continued to decrease. continue to increase.
Vietnam’s wood exports in the third quarter of 2022
In the third quarter of 2022, the export volume of the wood industry increased. Wood chips and pellets are two items with good growth rates. accounting for a large proportion of output and turnover in the export structure of Vietnam’s wood materials.
Outlook for Vietnam’s wood industry in the third quarter of 2022
The price of raw wood products has increased x% in just a short period of time in early 2022. It is expected that the price of raw wood will continue to remain high in 2022 due to the outbreak of the Covid-19 epidemic. In China, gasoline prices and freight rates are still relatively high, and problems surrounding logistics activities such as lack of means of transport and congestion at ports have not been completely resolved.
Supply
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 imported raw wood is forecast to increase from x% in the second half of 2022. However, the price of raw wood is expected to increase. Due to the high level of raw materials, wood enterprises will face many risks because of the lack of raw materials for production, although export orders are still sufficient.
Demand
Domestic demand for wood and wood products will be positively influenced by the growth of the domestic construction industry. According to BMI’s forecast, the domestic construction industry will grow positively at x% in 2022.
Vietnam’s exports of wood and wood products in the whole year of 2022 are forecast to be at the same level or only increase at a rate of x% over the same period in 2021 due to
In the US and EU markets, inflation is increasing sharply, making people in these countries tend to tighten their spending… In addition, wood exports to this market will.. ..
The demand for wood products in the coming year may be affected by the slowdown of the Chinese real estate market.
The opportunity to export wood products to other markets such as Korea and Japan is likely to grow in 2022 when the RCEP agreement comes into effect.
Read more report of Vietnam wood industry in the second quarter of 2022 here
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