Từ khóa: #wood processing industry

The wood export industry in Vietnam is facing two anti-fraud investigations from the US Department of Commerce (DOC) for plywood products and wooden cabinets.

 

In the first five months of the year, the Binh Duong wood industry had impressive performance when the export value of wood products was estimated at more than US$3 billion, up 3.2 percent over the same period, accounting for 19.1 percent of the provincial export turnover. However, with sharp fluctuations in petrol prices, foreign exchange rates, and general difficulties of the global economy, Binh Duong Furniture Association (BIFA) forecasts that in the last months of this year, the wood industry will face great challenges.

According to the Ministry of Agriculture and Rural Development, in the first quarter of this year, the export value of key forestry products reached about US$2.7 billion, an increase of 16 percent compared to the same period last year.

The wood industry of Binh Duong Province accounts for up to 50 percent of the country’s total wood export value. In the past months, the Covid-19 pandemic has affected significantly the production and export of wood of enterprises in the province, forcing them to promote market expansion and online selling.

According to the Ministry of Agriculture and Rural Development, for making use well of free trade agreements, in the first ten months of this year, export turnover of Vietnamese wood and wood products to the US posted strong growth compared to the same period last year with export value reaching US$4.2 billion, an increase of 34.5 percent.

According to a market research on wood processing market of Vietnam by Forest Trend, in the first five months of this year, the number of new foreign direct investment (FDI) projects in wood industry totaled 49 projects, of which there were 32 projects belonging to wood processing field.

More than 1,000 machines and equipment will be displayed at the 13th International Woodworking Industry Fair (VietnamWood 13), an exhibition of machines and equipment for wood processing industry, which will take place from September 18 to 21 at the Saigon Exhibition and Conference Center in District 7 in Ho Chi Minh City.