Wood and wooden furniture exports from Vietnam are experiencing a robust recovery, signaling positive momentum for the industry. According to industry experts, exports in this sector have been steadily increasing since the end of 2023. Notably, December 2023 saw a 10.3% month-on-month rise to $1.6 billion, followed by another 10.2% growth in January to nearly $1.8 billion.
These figures highlight the resilience of Vietnam’s wood industry, especially considering the challenges it faces. Experts pointed out various issues affecting sustainability, including risks associated with imported timber materials, EU regulations on deforestation, and the demand for low carbon footprint wooden products. Additionally, disruptions in transportation due to conflicts in the Red Sea have led to increased expenses, posing another significant challenge.
Despite the hurdles, there have been positive developments in export markets such as India, Peru, Turkey, and Norway. However, 2023 presented a tough year overall, with Vietnam’s wood exports experiencing negative growth for the first time in two decades, declining by 14.8% to $16 billion.
The VIFA EXPO 2024, organized by industry associations along with other partners, provides a platform for the sector to showcase its products and explore business opportunities. With over 600 exhibitors from 17 countries and territories participating, the expo offers a wide array of wood furniture, home decoration items, handicrafts, machinery, and services.
As a crucial trade promotion event for the wood and furniture sector, the expo facilitates networking and collaboration among enterprises, driving the industry forward in the global market.