According to the recent announcement by the General Statistics Office of Vietnam, Vietnam exported timber and wood products worth about US$1.1 billion in January, a year-on-year decrease of 29.8%.
Do Xuan Lap, chairman of the Vietnam Timber and Forest Products Association, said the decrease in exports was mainly due to a shortage of orders.
It is understood that during the Spring Festival this year, Vietnamese factories are facing extended shutdowns, and some companies have a holiday of up to one month.
Currently, most producers choose to "hibernate" to wait for the market to recover. How long this "hibernation" will last depends on the inventories and financial situation of producers.