WOOD EXPORT SITUATION AND WOOD PRODUCTS OF VIETNAM IN 2019

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EXPORT

According to statistics of the General Department of Customs, Vietnam's export turnover of timber and wood products (G&SPG) in 2019 set a new record of US $ 10,647 billion, an increase of 19.5% compared to 2018. Ranked 6th in commodity export turnover / commodity group in 2019.

In particular, the export turnover of wood products reached US $ 7,783 billion, up 23.5% over the same period in 2019, accounting for 73.67% of the total G&PG export turnover of the whole industry – this proportion in 2018 was 70 , 75%.

Thus, the export turnover of G&PG in 2019 exceeded the expected growth rate of 15% / year previously forecast. Along with that, the proportion of export turnover of wood products continues to increase slightly.

Global economy in 2020 is expected to be potentially risky, especially the Sino-US trade war, in addition to political instability in Trung Do. However, we need to clearly see the opportunity to shift more manufacturing and investment sectors to Vietnam.

Forecast, with the fast development of production technology, human resources and foreign investment. G&PG export turnover is expected to maintain the growth rate of 17-20% in 2020.

Figure 1:Refer to Vietnam's G&SPG export turnover by month in the period from 2016 – 2019

(Unit: million USD)

(Source:General Department of Customs)

Chart 2:Refer to Vietnam's G&PG export turnover in the period from 2009 to 2019

(Unit: billion USD)

(Source:General Department of Customs)

Enterprises with foreign direct investment (FDI)

In 2019, the export turnover of G&PG of FDI enterprises reached 4.71 billion USD, up 19.78% compared to 2018; accounting for 42.23% of total exports of G & SPG throughout Vietnam.

In particular, export turnover of wooden products reached US $ 4,328 billion, up 21.16% over the previous year; accounting for 91.9% of total FDI export turnover of G&PG in 2019.

Enterprises participating in export

According to statistics of the Ministry of Agriculture and Rural Development, in 2019, there were 2,392 enterprises involved in exporting wood and wood products, including 612 FDI enterprises and 1,780 Vietnamese enterprises.

Chart 3: Enterprises participating in exporting wood and wood products in 2019

(Source: Ministry of Agriculture and Rural Development)

Export market

In 2019, the United States continues to be Vietnam's largest G&SPG export market, reaching US $ 5.33 billion, accounting for up to 50% of the country's total G&SP export. In addition, the United States is also the market recorded the highest increase among the key export markets of G & SPG, up 36.85% compared to 2018.

In addition, exports of G & SPG to most other major markets also increased sharply: Japan increased by 15.69%; China increased by 8.43%; Canada increased by 15.84% …

In contrast, among the key markets, exports to 03 Asian markets including Korea, Australia and Malaysia fell sharply, down by 15.43%; 21.6%; and 30.99% compared to 2018.

Figure 4:Refer to the export market share of G&PG in 2019

(Source:General Department of Customs)

Table 1:Refer to the key export markets of G&PG in 2019

(* not statistic; Source: General Department of Customs)

Wood products and main export wood products in 2019

Table 5: Main export commodities of wood and wood products in 2019

( Source: General Department of Customs)

IMPORT

According to statistics of the General Department of Customs, G & SPG import turnover to Vietnam in 2019 reached US $ 2,542 billion, up 9.8% compared to 2018.

Thus, in 2019, Vietnam had a trade surplus of US $ 8,104 billion in G&SPG import and export activities (in 2018, trade surplus was US $ 6.59 billion).

Figure 6: G & SPG import turnover to Vietnam by month in the period of 2016-2019

(Unit: Million USD)

(Source: General Department of Customs)

Figure 7: Import turnover of G & SPG to Vietnam in the period of 2009-2019

(Unit: billion USD)

(Source: General Department of Customs)

FDI enterprises

In 2019, the import turnover of G&PG of FDI enterprises reached US $ 775 million, up 16.4% compared to 2018, accounting for 30.47% of the total G&SPG import turnover of the whole Vietnam.

Thus, in 2019, FDI enterprises had a trade surplus of US $ 3.934 billion in G&SPG import-export activities.

Import market

In 2019, China continues to maintain the largest G&PG supply market for Vietnam, reaching 656 million USD, accounting for 25.82% of total import turnover. In addition, China is also the market with the highest growth among the markets supplying G & SPG to Vietnam, up to 47.59% compared to 2018.

In contrast, imports of G & SPG from 02 Asian markets, Maylaysia and Laos, fell sharply, down by 68.56% and 27.13% respectively compared to 2018. This is also the second consecutive year recorded Get a very strong decline from these two markets.

Figure 8: Refer to Vietnam's G&SPG import market share in 2019