According to March 2022 data provided by the Vietnam General Administration of Customs, exports of wood and wood products to the EU reached US$71.3 million, an increase of 0.4% over March 2021 and an increase of more than 6% for the year. In March 2022, Vietnam’s most exported wood product was bedroom furniture, with exports estimated at US$225 million, up 0.6% from March 2021. Bedroom furniture exports were estimated at $578 million in the first quarter, up 0.9% from the same period in 2021.
Large quantities of imported oak
Vietnam’s oak imports in March 2022 are estimated at 16,500m worth USD 10 million, an increase of 14.9% in volume and 15.2% in value compared to February. Compared to March 2021, imports are down nearly 50% in volume and 40% in value.
Oak imports in the first three months of 2022 reached 50,000 m, valued at US$29.8 million, a 41.5% decrease in volume and value, and a 30.3% decrease in value compared to the same period in 2021.
Imported oak from Vietnam accounts for 64% of the total oak
US oak exports to Vietnam in the first two months of 2022 reached 21,400m worth US$12.8 million. Compared to the same period in 2021, volumes are down 43% and values are down 30%.
Oak exports to Vietnam accounted for 64% of Vietnam's total oak imports from all sources. The United States remains Vietnam's largest importer of oak.
Statistics at the beginning of the epidemic in 2020
However, it can be seen from the data that 2020 is in the early stage of the epidemic, and the chaotic management and control and the restricted shipping routes in Southeast Asia will have a greater impact on the export of Vietnamese wood products. This kind of export to domestic sales made the Vietnamese furniture industry a serious setback.
By 2022, Vietnam's furniture industry has begun to recover from the epidemic. After formulating the annual wood product export plan, the import volume of wood in Vietnam has increased significantly this year. In particular, to ensure the development of the furniture industry, Vietnam has formulated oak wood and other furniture. Timber import planning. For the global furniture market, Vietnamese furniture is still relatively competitive.
