Vietnam’s wood export likely to hit 14.5 billion USD in 2023
Vietnam’s wood export is likely to hit about 14.5 billion USD this year, lower than the yearly target of 17 billion USD, Vice Chairman of the Handicraft and Wood Industry Association of Ho Chi Minh City (HAWA) Nguyen Chanh Phuong told a local press conference on September 13.
HCM City (VNA) – Vietnam’s wood export is likelyto hit about 14.5 billion USD this year, lower than the yearly target of 17billion USD, ViceChairman of the Handicraft and Wood Industry Associationof Ho Chi Minh City (HAWA) Nguyen Chanh Phuong told a local press conference onSeptember 13.
Between now and the year’s end, the figurecould reach roughly 6 billion USD.
Since early this year, the export of wood andwooden furniture has been dull, with a shortage of orders common in mostbusinesses. In the past eight months, the export turnover neared 8.3 billionUSD, down around 26% annually, Phuong said.
Since May this year, the Vietnamese firms have beenimporting a significant amount of raw wood materials which rise by 5-10% permonth. This is a sign that they are actively preparing for end-of-year orders,he added.
Citing data from the International TradeCentre (ITC), Phuong revealed that the Vietnamese wood enterprises are alsoimporting a substantial amount of machinery and equipment, totaling approximately240 million USD, mostly from China, Europe, the Republic of Korea and Japan,among others.
According to him, the 2023 VietnamInternational Woodworking Industry Fair (VietnamWood 2023) and the Vietnam International Furniture Accessories, Hardware &Tools Exhibition (Furnitec 2023) will be concurrently held in Ho ChiMinh City from September 20-23.
Organisedby the Vietnam National Trade Fair & Advertising Company, Yorkers Trade& Marketing Service Co and HA𝔉WA, the events will also feature livestreamsessions to introduce new technologies and a series of wood technology seminarswith topics such as proactive production - simplified operations, greenfactories with a focus on carbon neutrality, equipment health and smartmaintenance, among others./.
The export value of wood and wood products was estimated at nearly 1.1 billion USD in July, bringing the total export earnings of the industry in the first seven months of this year to 7.1 billion USD, down 25% year on year, according to data of the Ministry of Agriculture and Rural Development.
Further opportunities will be unlocked for Vietnamese home and kitchen decor and its furniture industry by tapping into the strong foundation of traditional long-standing craft villages, natural material resources and manufacturing capacity.
A key change in the draft decree is a provision requiring bank transfers for gold transactions valued at 20 million VND (765 USD) and above, to enhance transparency and verify customer identities.
In the first four months of 2025, trade turnover between Vietnam and Cambodia surpassed 3 billion USD, marking a 7% increase compared to the same period in 2024.
On June 19 alone, a total of 2,005 trucks completed customs clearance at Lang Son’s border gates — the highest single-day figure ever recorded in the province. Of these, 634 carried exports and 1,371 imports.
The OECD Economic Surveys: Vietnam 2025 report focuses on analysing the country’s macroeconomic fundamentals, the impact of international integration on attracting foreign investment and trade, and the country’s prospects for developing a low-carbon economy.
Antoine Colin, Senior Vice President for Global Supply Chain Digital Transformation & Resilience at HP Inc., affirmed HP’s strategic commitment to building a supply chain and ecosystem in Vietnam and the region.
Deputy Director General of the Ministry of Industry and Trade (MoIT)’s Trade Promotion Agency Bui Quang Hung emphasised that logistics has evolved from a technical function into a core capability for Vietnamese exporters to maintain their competitive advantage in the US market.
A trade official has suggested companies work closely with shipping lines, airlines, and freight forwarders to monitor routes, transit times, and potential surcharges while exploring broader cargo insurance to cover risks like war and terrorism.
In addition to institutional reform, the agency is also rolling out key solution groups to combat counterfeit goods, imitations, and intellectual property infringements in the digital environment.
The event, co-organised by the Vietnam Trade Office in the UK and TT Meridian, a local importer of Vietnamese fresh produce, aims to build a national lychee brand and encourage broader recognition of Vietnamese fruits in a competitive, high-end market.
The industry's performance has been powered by bold investments in modern production lines, enabling Vietnamese firms to produce complicated products which were exclusive to advanced economies.
Outcomes of ABAC III will shape ABAC’s final policy recommendations to be submitted to the ABAC-APEC leaders’ dialogue, scheduled to take place in the Republic of Korea this November.
This is the second year the magazine has released the ranking, which is based on total revenue and key financial indicators of enterprises from seven countries in the region: Vietnam, Indonesia, Thailand, Malaysia, Singapore, the Philippines, and Cambodia.
At the summit, publishing, tech, and media sectors will discuss emerging trends, business models, and sustainable solutions for digital publishing development in Vietnam.
This year’s “Vietnam Goods Week” marks a significant milestone as it is being held simultaneously for the first time in four locations across Asia: Japan, Hong Kong (China), Cambodia, and Malaysia, from June 19 - 22.
According to NordCham Vietnam Chairman Thue Quist Thomasen, the Vietnamese Government’s commitment to achieving net-zero emissions by 2050 is both a challenge and an opportunity for businesses to contribute to green and sustainable growth.
The analysis from an investment perspective shows that the economy’s growth has been heavily capital‑driven, yet efficiency remains low as reflected by Vietnam’s Incremental Capital-Output Ratio (ICOR) being significantly higher than global and regional averages. This underscores the imperative to enhance capital‑use efficiency.
Illustrative image (Photo: VNA) 
