Business
Vietnam’s wood exports expected to surge
The year 2015 is providing a golden opportunity for Vietnam’s wood exporters to boost their global exports, according to the Handicrafts and Wood Industry Association of Ho Chi Minh City (HAWA).
The forecast is based predominantly on the shrinking market share of China - the country’s main competitor - in the US market, where Chinese wood products are facing high anti-dumping taxes.
In addition to this, a number of wood factories in the main exporting countries have been closed down due to the ripple effects of the economic recession in Europe, providing an opportunity for Vietnam to raise its wood export value.
The formation of the ASEAN Community, which is scheduled to take place by the end of the year, will also offer excellent opportunities, as wood will be one of the 12 prioritised industrial sectors.
Currently, Vietnam is the sixth largest wood exporter in the world, with export value growing 27.15 percent a year on average from 2001 to 2010, and 15 percent on average in the last five years to reach 6.23 billion USD in 2014.
In addition to this, a number of wood factories in the main exporting countries have been closed down due to the ripple effects of the economic recession in Europe, providing an opportunity for Vietnam to raise its wood export value.
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Currently, Vietnam is the sixth largest wood exporter in the world, with export value growing 27.15 percent a year on average from 2001 to 2010, and 15 percent on average in the last five years to reach 6.23 billion USD in 2014.
