Vietnam’s exports of wood and wood products are estimated to earn over $16.2 billion this year, according to the Vietnam Timber and Forest Product Association (VIFOREST).

The US is currently the largest importer of Vietnam's wood and wood products. It is followed by China and Japan.

Export revenue to the US is projected to account for 56% of the total, equivalent to nearly $9 billion.

However, in the near future, some predicted changes in trade policies under the Trump administration from early 2025 would pose challenges to the wood sector of Vietnam, according to VIFOREST Chairman Do Xuan Lap.

He emphasized the need for businesses to better their competitive edge to meet market requirements through transparent production, ensuring traceability and supplying products of market demand with good design and reasonable prices.

Source: VnEconomy