The year 2024 is forecast to remain a challenging year for wood industry, given several issues affecting the sustainability of production and export, according to experts.
Wood export turnover reaches 14.39 billion USD in 2023, down 15.8% year-on-year (Photo: VNA)
Hanoi (VNA) – The year 2024 is forecast to remain a challenging yearfor wood industry, given several issues affecting the sustainability ofproduction and export, according to experts.
Statistics of the Ministry of Agricultureand Rural Development show that the sector’s export turnover reached 14.39billion USD last year, down 15.8% year-on-year.
Major export markets have increasinglystricter regulations on product legality and sustainability. Specifically, the EUDeforestation Regulation (EUDR), which took effect in late June 2023,requires products imported into this market to ensure legality and not causedeforestation.
Along with the EU, many other markets have also set new and strict policies, causing many difficulties for wood exportactivities. The US market requires an increase in the frequency ofinvestigations applying trade remedies to the industry, and also compliancewith labour and employment regulations. Japan also requires Vietnamese woodproducts to have sustainability certificates.
The German Supply Chain Due Diligence Actis also indirectly impacting Vietnamese exporters. German importers requireVietnamese exporters to provide additional certificates related to productorigin, employment status, wages, waste treatment and other relatedcertificates.
Meanwhile, Canada currently tends to putforward more environmental regulations in its product design, manufacturing andmarketing strategies. Recently, the Canadian Government published a regulatory frameworkto establish mandatory requirements for recycled content and labelling forplastic products, which will have some impacts on most of Vietnam's exportcommodity groups, from consumer goods packaging to other key export sectors./.
In the first 11 months of 2023, seven commodities of Vietnam posted export value of over 10 billion USD, accounting for over 60% of the country's total export turnover.
Vietnam’s exports of wood and wooden furniture will reach only about 13.5 billion USD in 2023, down 15.5% year on year, President of the Vietnam Timber and Forest Product Association (VIFOREST) Do Xuan Lap told a seminar held in Hanoi on December 21.
The forestry sector is set to harvest 17.5 billion USD from exports and 23 million m3 of wood from planted forests in 2024, Trieu Van Luc, Deputy Director of the Forestry Department under the Ministry of Agriculture and Rural Development, has unveiled.
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Wood export turnover reaches 14.39 billion USD in 2023, down 15.8% year-on-year (Photo: VNA) 
