Vietnam’s wood exports generated US$1.1 billion in the first four months of the year, up 52% from same period last year, with the U.S. and European countries remaining key buyers. Meanwhile, local wood processors so far have imported US$350 million worth of timber and other materials, up 18% over the same period last year, according to the agriculture ministry.
Nguyen Ton Quyen, secretary general of Vietnam Timber and Forest Product Association, said the high export revenue was owing to the economic recovery in key importing markets including the U.S. and Europe.
Quyen expected wood exports would increase sharply from June as production would be on high peak. Nevertheless, according to him, the rising input cost is posing challenges to furniture makers.
“Some wood manufacturers have signed enough contracts for delivery until September. However, the rising input cost and high inflation are posing so big challenges to their business and they have to seek ways to cut cost,” he said.