VIETNAM - In 2020, according to information by ITTO, in spite of the pandemic, exports of wood and wood products amounted to USD 12.371 billion, a year-on-year growth of 16%.

Of this, exports of wood products were valued at USD 9.535 billion, 22.5% up compared to 2019 and accounted for 77% of total wood and wood products exports. With this growth rate wood and wood products steadily remain amongst top 6 export commodity groups in Vietnam.

The US continued as the top destination for of Vietnam’s wood and wood products exports. In 2020, export to the US reached USD 7.166 billion, 34% higher than in 2019 and accounted for 58% of the total wood and wood products exports.

With the current momentum, in 2021 wood and wood products export growth is forecast to expand 15% generating USD 14.0 billion provided no major export market uncertainties occur.

In 2020, Vietnam exports of wood and wood products by foreign enterprises were valued at USD 6.15 billion, 30% higher than in 2019  and accounted for around half of all wood and wood products exports by the entire industry (in 2019, this indicator was 42%). Exports by foreign companies of Wood Products reached USD 5.661 billion, 318% up compared to 2019 and accounted for 93% of the total value of wood and wood products exported by foreign enterprises.