Vietnam wood product exports grew in March
18 April 2024The value of Vietnam’s timber and wood products exports grew by 46% in March compared to the previous month but are lagging year ago rates, according to Vietnam’s Customs Office figures cited by the International Tropical Timber Organisation’s latest market bulletin.
Timber and wood products exports were worth US$1.12bn in March, but the value was down 2% compared to March 2023. Exports of wood products contributed US$749m, up 58% compared to February 2024, but down 4% compared to March 2023.
Q1 exports totalled US$3.4bn, says ITTO, up 19% over the same period in 2023. Wood product exports accounted for US$2.3bn, up 23% over the same period in 2023.
Wood-based panels and flooring exports in the first two months of 2024 were worth US$280m, up 37.6% on a year ago. Wooden frame seats were the single biggest product item being exported.
Timber and wood product imports in March 2024 stood at US$190m, up 55% compared to February 2024 but down 2% on a year ago. Q1 imports were US$532m, up 15% over the same period in 2022.
