In 2021, the export turnover of wood and wood products to the US was estimated at 8.8 billion USD, up 22.4% compared to 2020. With advantages of the market, it is expected that export turnover of wood and wood products to the US to reach 10 billion USD in 2022.
According to the General Department of Customs, the export turnover of wood and wood products to the US market in 2021 was estimated at 8.8 billion USD, up 22.4% compared to 2020. Wooden furniture is a main export commodity with the proportion accounting for 87.6% of the total turnover of the year, followed by living room furniture, dining room furniture and bedroom furniture.
With the efforts of businesses to maintain production and export, and the Government’s flexible policies during a difficult period due to the impact of the pandemic, Vietnam’s export turnover of wood and wood products to the US has achieved good results in 2021. Following the growth momentum in 2021, it is forecasted that the export turnover of wood and wood products to the US to reach 10 billion USD in 2022.
Despite many opportunities, the wood industry, especially Vietnam’s wooden furniture industry, is also facing many challenges, especially trade remedies. In addition, the shortage of empty containers continued from 2020 and is continuing to directly affect Vietnam’s exports when the risk of disease has not been completely controlled in many parts of the world. Therefore, when exporting to the US, businesses face difficulties in logistics fees. The cost of transporting 1 container of wooden furniture to the US ranges from $20,000 to $30,000, up 4 times that in previous years, which affects the competitiveness of Vietnamese goods.
(Source: mard.gov.vn)