Wood export to US shows signs of gradual recovery
Wednesday, 25/10/2023 11:31 (GMT+7)
Total export value of wood and wooden products reached 9.6 billion USD in Jaunuary-September 2023, down 21.8% from the same period last year.
According to the Ministry of Industry and Trade’s Import-Export Department, exports of wood and wooden products to the US in September 2023 gradually recovered, reaching 616.9 million USD; an increase of 7.5% compared to September 2022.
In the first 9 months of the year, exports of wood and wooden products to the US market reached 5.2 billion USD; down 24.2% year on year. The decrease is narrowing as the import demand of the market gradually increases.
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| Producing wooden furniture for export to the EU market at WOODSLAND Tuyen Quang Joint Stock Company. (Photo: VNA) |
According to the Import-Export Department, the recovery of the US market contributes to promoting better growth for the wood industry in the last months of the year, because the export value to this market accounts for 53.7% of the country’s total wood and wooden product export value.
In addition, in the first 9 months, wood and wood products were mainly exported to Japan, worth 1.26 billion USD, followed by China, worth 1.23 billion USD./.
BTA