Despite facing global inflation pressures and rising production costs, Vietnam’s wood and wood product exportscontinued to grow strongly, reaching over USD 11 billion in the first eight months of 2022.
August 2022: Export Value Rose Sharply
According to the Import and Export Department (Ministry of Industry and Trade), Vietnam’s export value of wood and wood products in August 2022 was estimated at USD 1.35 billion, representing a 65% increase compared to August 2021.
Of this total, wood product exports reached approximately USD 851 million, up 60% year-on-year.
The sharp increase in August 2022 was partly due to a low base in 2021, when strict Covid-19 social distancing measures disrupted production and export activities across the country.
Global Factors Driving Higher Export Value
In addition to post-pandemic recovery, geopolitical tensions between Russia and Ukraine have caused energy prices to surge, raising transportation and input material costs. These factors, in turn, have led to higher export prices, contributing to the notable increase in export value in 2022 compared with the same period last year.
Eight-Month Performance: USD 11 Billion in Export Value
For the first eight months of 2022, Vietnam’s wood and wood product exports were estimated at USD 11 billion, up 6.2% from the same period in 2021.
Within this figure:
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Wood product exports reached USD 7.77 billion, slightly down 3% year-on-year.
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Raw wood and semi-processed items made up the remaining share, reflecting the ongoing transition toward higher-value, finished products.
Despite economic headwinds, the Vietnamese wood industry remains resilient, maintaining positive growth momentum and reinforcing its position as one of the world’s leading exporters of wooden furniture and rubber wood products.