Exporting Wood industry situation in 2023
Vietnam plywood is a key product of Vietnam’s wood processing and export industry. Although the COVID-19 pandemic has negatively impacted the global economy, the industry has continued to grow over the past five years. Despite the challenges, the pandemic has opened up new opportunities and potential for network development in Vietnam’s domestic wood processing industry, particularly for Vietnamese plywood products exported worldwide.
Vietnam Plywood Manufacturing
In 2023, the impact of economic slowdown in key export markets of Vietnam’s wood industry, the Russia-Ukraine war, the energy crisis, especially in the EU, and a number of other macro factors will cause the demand for furniture to decline sharply. As a result, Vietnam’s G&SPG export turnover has decreased by 15.9% compared to 2022, reaching only 13.18 billion USD.
VietNam Main Exporting Market:
Vietnam’s export turnover in some major export markets in 2023 is as follows:
US: Export turnover reached over 7.1 billion USD, down 16.3% compared to 2022, accounting for 53.9% of the total export value of the whole industry to all markets.
China: over 1.73 billion USD, down 20.4% compared to 2022, accounting for 13.1% of total export turnover.
Japan: over 1.65 billion USD, down 12.5% compared to 2022, accounting for 12.6% of the total export value of the whole industry.
South Korea: 796.8 million USD, down 21.3% compared to 2022, accounting for 6% of total export turnover.
EU: 455.51 million USD, down 29.5% compared to 2022, accounting for 3.5% of total export turnover.
Canada: 202.85 million USD, down 12.9% compared to 2022, accounting for 1.5% of the total export turnover of the wood industry.
UK (UK): 190.82 million USD, down 18.1% compared to 2022, accounting for 1.4% of total exports
Vietnamese Plywood and laminated wood reached 888.88 million USD, down 14.3% compared to 2022, accounting for 6.7% of total G&SPG exports
HS code of Vietnamese Plywood
VietNam’s Plywood HS code of plywood (plywood) belongs to group 4412. Can be applied according to actual goods,
HS codes 44123100, 44123300, 44123400 and 44123900.
According to the import and export tariff 2022, plywood products have an Export tax of 0%
Vietnam wood export growth
The demand for plywood is increasing, on average, the world spends about 16-17 billion USD each year to import this item, with an import volume of about 32-34 million m3.
The top 5 largest plywood exporters in the world are China with 30% market share, Indonesia with 2nd place with 11% market share of the world, Russia with 8% and Malaysia with 6% and Vietnam with 5%.
In addition, some markets such as Korea, Malaysia, Japan,… are also one of the main partners of Vietnamese plywood products.
