2024 wood exports expected at $16bln

Vietnam’s wood industry plans to increase exports by organizing and participating in trade fairs to introduce Vietnamese wood products to international partners in order to fulfill this year’s export revenue target of $16 billion, according to the Ho Chi Minh City Handicraft and Wood Industry Association (Hawa).

Exports of wood and wooden products have shown positive signs, with many businesses seeing export orders recover by up to 90 per cent. A number have received orders for exports until May.

However, consumer demand regarding standards and models has kept changing, as has competitive prices.

In order to help businesses seek more orders and diversify markets, Hawa plans to organize an international wood and furniture fair from March 6-9. The HawaExpo 2024 is expected to attract the participation of 500 exhibitors and 25,000 visitors.

Vietnam earned nearly $1.5 billion from exporting wood and wooden products in the first two months of the year, up 72.5 per cent year-on-year.

Last year, export revenue reached over $13.5 billion, down 15.5 per cent compared to the figure in 2022.