Source: Kinhtedothi.vn
Trade surplus is 2.4 billion USD in 2 months
Information from the Ministry of Agriculture and Rural Development shows that in the first 2 months of 2024, the export value of wood and forest products reached 2.68 billion USD, an increase of 47.4% over the same period in 2023; Import value reached 355 million USD, up 31%; The trade balance favoring trade surplus is estimated at over 2.4 billion USD.
Chairman of the Vietnam Timber and Forest Products Association (Viforest) Do Xuan Lap analyzed that in the past 2 months, Vietnam’s 5 main wood export products are: furniture, chairs, wood chips, plywood and pellets. compressed.
In 2024, the wood industry aims to export 15.2 billion USD, of which wood and wood products are over 14.2 billion USD, an increase of 6% compared to 2023. Wood exports will prosper in 2024. USA, China, Korea and the EU are still potential and stable markets for Vietnam’s wooden furniture exports.
According to the Ministry of Industry and Trade, in 2024, the global trade outlook is not expected to improve, continuing to have an unfavorable impact on export activities of many industries, including wood and forestry products. product. In addition, the geopolitical conflict between Russia – Ukraine, Israel – Hamas and the problem in the Red Sea are directly disrupting the supply chain, escalating shipping and delivery costs.
Major export markets strengthen the enforcement of import regulations as an important technical barrier for many commodity groups from exporting countries. For example, European countries (EU) have requested a Carbon Border Adjustment Mechanism (CBAM), effective from October 2023. Accordingly, goods imported into the EU market will have to incur additional costs and convert to a production model with less emissions to get carbon credits.
To achieve the export goal of 2024, the wood industry needs to have fundamental solutions in technological innovation, raw material supply and especially the market. Deputy Minister of Agriculture and Rural Development Nguyen Quoc Tri
To meet the requirements of the EU market, Viforest has supported consulting for manufacturing businesses to reduce emissions through consulting activities for 6 leading businesses in the wood industry on emission reduction issues, thereby spreading radiate throughout the industry, aiming at reduced-emission production and considering this as a standard.
Focus on sustainable market development
To concretize export sales, the wood industry is focusing on many key issues, including promoting the market towards sustainable development. Because if the market is not built well, it will greatly affect wood export sales in 2024.
Accordingly, in the first quarter of 2024, the Association successfully coordinated to organize a series of wood industry fair events in March, including: Wooden & Furniture Export Fair (Hawa Expo) 2024 in Ho Chi Minh City and the International Fair of Outdoor Style Products in Quy Nhon (Q-FAIR) 2024. This is also the first and largest fair of the wood industry for outdoor goods, a place to trade and create opportunities for businesses. Vietnamese businesses reach international customers.
In addition, the wood industry coordinates with the Ministry of Industry and Trade and the Ministry of Foreign Affairs to participate in many economic diplomacy programs of the Ministry of Foreign Affairs to open fairs for businesses to open offices and warehouses at industrial parks. company, large purchasing center, especially in European and American markets. This is the strongest opportunity to promote the export of wood and wood products.
On the other hand, Viforest also supports businesses to associate production and reduce emissions with digital transformation, improve modern management capacity, and apply information technology to management. Especially innovating equipment to increase added value, improve labor productivity, and create competitiveness for businesses.
Mr. Do Xuan Lap said that the wood industry has proposed to the Ministry of Agriculture and Rural Development to develop supply zones and promote afforestation production, especially the planting of large timber trees to ensure the supply of raw materials for planted wood for businesses. Along with that, it is necessary to minimize the import of natural forest wood.
Currently, each year, on average, Vietnam is importing about 1 – 1.3 million m3 of natural forest wood in high-risk areas such as Cambodia and Africa. Therefore, it is necessary to reduce this import volume and promote the use of domestically grown forest wood.
