After recording consecutive declines in August and September 2021, Vietnam’s export turnover of wood and wood products recovered again in October 2021. It is estimated that the export of wood and wood products in October 2021 reached 780 million USD, up 11.2% compared to September 2021, but down 39.2% compared to October 2020. In the first ten months of 2021, the export of wood and wood products reached 11.89 billion USD, up 21.4% over the same period in 2020.
The COVID-19 pandemic continues to have a strong impact on the export of wood and wood products in September 2021. According to statistics from the General Department of Customs, the export turnover of wood and wood products in September 2021 reached 701 million USD, down 39.5% compared to September 2020. In which, the export turnover of wood products reached 422 million USD, down 54.8% compared to September 2020.
In the first nine months of 2021, the export turnover of wood and wood products reached 11.11 billion USD, up 30.6% over the same period in 2020. In which, the export of wood products reached 8.4 billion USD, up 31.3% over the same period in 2020.
In September 2021, the export turnover of most types of wood and wood products decreased sharply, except for wood, wood boards and flooring, and wood chips. The biggest decrease was in export turnover of bedroom furniture, office furniture, living room, and dining room furniture.
In the first nine months of 2021, the export turnover of most types of wood and wood products increased compared to the same period in 2020, except for wood handicrafts which decreased. In the first nine months of 2021, wooden frame chairs are the product category with the strongest increase in export turnover, up 56.5% over the same period in 2020, reaching 2.68 billion USD. Exports of wood, wood boards, and flooring increased by 48.5%, reaching 1.39 billion USD. Other product categories with high growths include kitchen furniture, mirror frame, other room furniture, dining room, office furniture, etc.
In terms of markets, in September 2021, Vietnam's export turnover of wood and wood products to many markets decreased compared to the same period in 2020, while exports to China, Malaysia, Singapore, Cambodia, the Philippines, Switzerland, and Russia increased. Besides, although the total export turnover of wood and wood products to the EU market decreased, exports to some EU countries such as Italy, Sweden, Romania, Greece, Bulgaria, and Slovenia increased.
Generally, for the first nine months of 2021, the export turnover of wood and wood products to most markets increased compared to the same period in 2020.
Currently, the COVID-19 pandemic has been controlled basically, and many localities have been allowed to reopen for production and business activities in the area in the new normal state, implementing Resolution 128/NQ-CP issued by the Government. According to a survey conducted by wood industry associations and associations from October 10 to October 21, only 8.3% of businesses stopped operating, 56% of businesses said they had applied many different forms to stay in operation. Regarding the number of employees, surveyed companies said that the percentage of employees before and after the distancing period decreased by 18%. As for operating capacity, 67% of companies are operating above 70% capacity, 20% are operating at 50-70% capacity, and 13% are operating at less than 50% capacity.
Among enterprises participating in the survey, 46% said that their revenue would remain unchanged. 37% thought that their revenue would increase, and about 37% expected their revenue to decrease.
In general, many wood processing companies have returned to operation at a production capacity of 70-80%. Therefore, it is likely that the export of wood and wood products will recover strongly in the last two months of 2021 to meet high orders at the end of the year.
(First nine months of 2021)
Source: The Ministry of Industry and Trade