* Exported data:
Statistics from the International Trade Center (ITC) show that, from 2018 onwards, Vietnam ranks among the top 5 major plywood export markets. Export values increased from $774 million in 2018 to $1.02 billion in 2021 and 1.1 billion in 2022.
In which:
The leading plywood export market includes China ($5.89 billion).
Besides that, Indonesia ($2.51 billion); Russia ($1.9 billion). Brazil ($1.2 billion); and Vietnam (1.1 billion USD).
Large plywood import markets include the United States (4.5 billion USD). Japan ($1.58 billion); Germany (1.1 billion USD); Korea ($0.84 billion); and the UK ($0.8 billion).
* The factor:
Vietnam is considered to have significant potential in the world plywood market due to a number of factors. In which abundant natural resources, including a large number of forests are the source of raw materials necessary for production. In addition, Vietnam has a rapidly growing economy, which leads to an increasing demand for building materials and furniture.
Vietnam Acacia Forest Resources
In recent years, Vietnam has also been investing in modernizing its production facilities, which makes it more competitive in terms of cost and quality than other plywood manufacturers in the region
Vietnam’s product export market will depend on a number of factors:
- Trade agreements and regulations.
- The level of competition from other producing countries will also impact the resilience of Vietnam’s plywood export market.
- Maintaining a good balance between quality and cost.
- Ensure stable input materials of manufacturers to optimize prices
- Improving competitiveness is something that businesses are forced to do. Each business will have different directions and ways of doing things, however, the development of strategies, analysis of market trends, selection of target markets,… This requires businesses to do it regularly and continuously.
* Conclusion:
Therefore, in order for maintaining its Top 5 position in the world in the long run, it is also an opportunity and challenge for Vietnam’s plywood enterprises. It is necessary to change, adapt and explore with every new market.