Export target reaches about 18 billion USD
According to data from the General Department of Customs, the export value of wood and wood products (G&SPG) in 2024 reached 16.25 billion USD, an increase of 20.3% compared to 2023. Of which, the export value of wood products is estimated at 11.2 billion USD, an increase of 21.9% compared to 2023.
In 2025, the wood industry aims to export 18 billion USD (In the photo, workers produce exported wooden furniture at S Furniture Joint Stock Company).
Compared to the old record set in 2022 (15.8 billion USD), the wood export turnover in 2024 has exceeded about 500 million USD. Along with wood, non-timber forest products also contributed 1.04 billion USD in 2024, helping the total export value of the entire forestry industry reach about 17.3 billion USD.
In terms of markets, the US still holds the No. 1 position for Vietnam’s wood industry exports. Specifically, in 2024, Vietnam’s G&SPG export value to the US market will reach 9.1 billion USD, accounting for 56% of Vietnam’s total G&SPG export turnover.
According to the assessment of the Department of Forestry, Ministry of Agriculture and Rural Development, the export prospect of G&SPG in 2025 is forecasted to be positive, with an export target of about 18 billion USD. However, the export prospect of the wood industry in 2025 depends on many factors, including global economic recovery, consumer demand in major markets, trade policies, and the competitiveness of enterprises in the industry.
The main export markets bring export prospects for the wood industry, in which the US market is the leader, but there is strong competitive pressure from other suppliers such as China, Malaysia, Indonesia, which requires Vietnamese enterprises to focus on developing products with added value.
Next is the EU market, the EVFTA (Vietnam – EU Free Trade Agreement) continues to bring tariff advantages, expanding opportunities for wood and processed products. In the Chinese market, demand is increasing due to urbanization and construction development. However, businesses will have to meet stricter requirements on legal wood origin.
Assessing the export target of 18 billion USD in 2025, Mr. Huynh Thanh Van – Chairman of the Board of Directors of S Furniture Company said that this target is completely achievable. Because currently, the order signals of enterprises have also shown to be much more positive than in 2024. Particularly for S Furniture, Mr. Van expects that in 2025, it will grow by 25-30%.
According to Mr. Van, good preparation of enterprises is also one of the factors helping the wood industry complete the 2025 target. Specifically, enterprises in the industry are focusing very strongly on digital transformation, applying digital in production and business, helping to reduce costs and reduce product prices. The application of advanced and modern production technologies not only helps reduce labor costs, but also increases product quality.
In addition, enterprises today are also very interested in environmental issues, especially green environment and green transformation. Because green transformation is now a mandatory requirement from customers and the world market, if not transformed, enterprises will face many risks.
According to Mr. Van, the number of orders moving from China to Vietnam is also very large, because Vietnam’s infrastructure has also improved a lot compared to before; the supporting industry serving the wood industry has also developed; skilled workers, producing beautiful, good quality products… these are the competitive advantages of Vietnamese enterprises compared to other countries in the region.
The US market continues to be a bright spot
Regarding Vietnam’s wood export market, especially the US market, Mr. Huynh Thanh Van said that the US market is one of the potential and very important markets for Vietnam’s wood industry. Currently, the US market is very stable, moreover, the US has just had a very large forest fire, many large projects were lost, this will be a great opportunity for Vietnamese wooden furniture manufacturing enterprises, when the demand for rebuilding houses and projects will be very large in the coming years.
However, in order to meet the needs of importers from the US, EU, UK… Mr. Van said that Vietnamese enterprises must obtain certificates such as BSCI, SMETA, FSC, COC, these are certificates of regulations and standards when exporting goods to demanding markets. If they do not meet these standards, they will lose the opportunity to export goods to this very potential market.