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Wood and wooden product exports in 2024 may reach a record of usd 17.5 billion

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General News

Published date:

30/01/2026

With export revenue of usd 7.5 billion achieved in the first six months of the year, wood and wood product exports in 2024 may set a new record of usd 17.5 billion…

Wood and wood product exports in the first six months of 2024 increased by more than 23% compared to the same period last year

According to data from the General Department of Customs, during the first six months of 2024, Vietnam’s wood and wood product exports reached usd 7.5 billion (or nearly usd 8 billion including non-timber forest products), up 23.1% compared to the same period in 2023. The wooden furniture segment alone reached usd 5.066 billion, increasing by 22.2% year-on-year.

The United States remained the largest export market for Vietnam’s wood and wood products, reaching usd 4.1 billion, up 24.5% compared to the same period in 2023. It was followed by China with usd 1.05 billion, up 49.3%; Japan with usd 796.8 million, down 2.2%; and South Korea with usd 389.2 million, down 1.4%…

The Import-Export Department under the Ministry of Industry and Trade stated that the United States currently accounts for approximately 53% of Vietnam’s total export turnover of wood and wood products. Annual cycle analysis shows that imports of wood and wood products, especially wooden furniture items in major markets, typically increase significantly during the last three months of the year as housing projects enter the completion stage and demand for furniture purchasing and renovation rises ahead of the new year.

At the same time, controlled inflation in major markets is stimulating consumer spending, while major economies are forecast to achieve positive growth in 2024, which is also expected to further improve the global wooden furniture market. In its april 2024 world economic outlook report, the IMF raised the United States’ GDP growth forecast to 2.7% and the EU’s growth forecast to 0.8%.

According to Mr. Nguyen Quoc Khanh, chairman of the Handicraft and Wood Industry Association of Ho Chi Minh City (HAWA), Vietnam’s wood and wood product exports are growing thanks to positive signals from markets such as the United States and the EU. Among them, the United States remains the largest market, accounting for 52–55% of Vietnam’s wood export value.

“Although the peak season for wooden furniture consumption has not yet begun, Vietnam’s wood and wood product exports have still reached usd 1.2–1.4 billion per month in recent months.”

Mr. Nguyen Quoc Khanh, chairman of the Handicraft and Wood Industry Association of Ho Chi Minh City (HAWA).

“It is important for Vietnamese wood companies to keep up with the latest trends in the United States market so that Vietnamese wooden furniture can meet consumer preferences,” Mr. Khanh commented. He also forecast that, with the current growth rate and the approaching year-end peak shopping season, Vietnam’s monthly wood and wood product exports could reach usd 1.6–1.8 billion, bringing total annual export turnover to as much as usd 17.5 billion.

Mr. Nguyen Liem, chairman of the Binh Duong Furniture Association (BIFA), stated that Binh Duong continues to make the largest contribution to Vietnam’s wood and wood product exports. During the first six months of 2024, Binh Duong’s wood industry exported approximately usd 3 billion, accounting for 40% of the country’s total wood and wood product export turnover.

According to Mr. Liem, the strong growth of wood and wood product exports during the first half of this year is a positive result for Vietnam’s wood industry despite numerous challenges, including cargo supply chain disruptions caused by tensions in the Red Sea.

Although export performance in the first half of the year was positive, Mr. Liem emphasized that for sustainable growth and long-term development, Binh Duong’s wood industry in particular and Vietnam’s wood industry in general must proactively adapt to all conditions and circumstances, thereby implementing flexible changes in both production and export activities. In particular, the industry should focus on developing technology and strengthening product supply chains from raw materials to logistics.