The report of the Agro Processing and Market Development Department (Ministry of Agriculture and Rural Development) shows that the export value of wood and wood products in January 2021 reached 1.25 billion USD, up 48.4% over the same period last year. 2020. 

The US , Japan and China are the three largest import markets for wood and wood products of Vietnam in 2020, accounting for 78.1% of the total export value of wood and wood products.

In the opposite direction, the import value of this commodity in January 2021 reached US $ 280 million, up 64.8% compared to January 2020.

In 2020, the export value of wood and wood products will increase sharply in markets: the US (an increase of 33.8%), Thailand (an increase of 20.4%) and Canada (an increase of 14.1%) compared to 2019. In contrast, the market with the biggest drop in timber and timber product exports was the UK (down 26.5%). 

Meanwhile, the total value of imports of wood and wood products reached 2.56 billion USD, up 0.6% compared to 2019, of which, 33.7% was imported from China, 12.2% was from the US. and 5.1% from Thailand. 

Compared to 2019, Vietnam's imports of wood and wood products from China increased by 31.1%, Thailand increased by 14.7%, while imports from the US decreased by 8%. 

According to the Department of Agro-Processing and Market Development, 2020 is a successful year for Vietnam's wood industry.

Although the COVID-19 epidemic broke out strongly, the value of furniture exports only decreased in April and May 2020; Starting from June 2020, wood exports have continuously increased. The resilience of Vietnam's wood industry in recent years has contributed greatly from the ventilation of the domestic legal system, together with the effective FTAs.

The world furniture market is very large, with a commercial value of about 450 billion USD / year, of which wooden furniture is about 150 billion USD / year.

The export turnover of Vietnam's wooden furniture only accounts for about 6% of the global market share, so the export space of the industry is still very large. In 2021, the forest products industry aims to export 14.5 billion USD (up 12% compared to 2020), of which, wood and wood products will reach 13 billion USD.

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