In the first 10 months of this year, the wood industry's export turnover reached 13.2 billion USD, an increase of nearly 21% over last year.
Wood industry is aiming for the prospect of exceeding 16 billion USD in export turnover this year, far exceeding the target of over 14.2 billion USD that the Ministry of Agriculture and Rural Development set at the beginning of the year.
At Woodsland Joint Stock Company, the warehouse for export is always ready with stock. Workers and machines are working at full capacity. This factory is rushing to produce in the last months of the year to be ready to supply a large amount of wooden furniture to serve the holiday season for foreign markets.
"We export about 250 containers to European and American markets each month, about 20% higher than in 2023. We expect this growth to be even greater than the target set at the beginning of the year," said Ms. Le Ngoc Mai - Head of Planning Department, Woodsland Joint Stock Company.
The United States - a very important market contributing more than 55% of the total turnover of the wood industry is recovering clearly. In particular, there is continued expectation of improvement because the President-elect's policy continues to aim for economic growth, reducing inflation, thereby stimulating people to consume more.
"The US market has a great demand for high-value luxury goods to affordable goods at competitive prices. Therefore, even small-scale businesses can find a market segment for their goods in the US," said Mr. Do Ngoc Hung - Vietnamese Trade Counselor in the US.
Mr. Do Xuan Lap - Chairman of the Vietnam Timber and Forest Products Association commented: "If the export value in the last two months of the year reaches 3 billion USD, the whole year's wood industry export value will reach 16 billion USD."
Recently, Vietnam wood industry The good news is that the US Department of Commerce has canceled all anti-tax evasion, anti-dumping, and anti-subsidy investigations into wooden cabinets imported from Vietnam. This move proves that the Vietnamese wood industry is transparent and does not dump, thereby contributing to promoting Vietnamese wood products to enter the US and achieve high growth from now until the end of the year.
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