Wood exports hit record high despite COVID-19 in five months

HCM City (VNA) – Exports of wood and timber products surged 42 percent year-on-year to reach a record high of over 6.42 billion USD in the first five months of 2021 despite global supply chain disruptions caused by the COVID-19 pandemic, according to customs data. Of the figure, 4.96 billion USD came from wood furniture, up nearly 57 percent against the same period last year. Domestic producers have adapted well to the “new normal” by stepping up digital trade meetings with foreign buyers in order to boost sales, said Deputy Minister of Agriculture and Rural Development Ha Cong Tuan. There is plenty of room for the global wood and furniture market to grow, said Bui Chinh Nghia, vice director of the Vietnam Forestry Administration under the Ministry of Agriculture and Rural Development. Vietnam now makes up 9 percent of the global market, he noted, stressing that with the current growth rate, Vietnam will soon rise to the fourth or even third places among the world’ largest exporters of wood products from the current fifth place. According to several foreign importers, COVID-19-induced social distancing orders and travel restrictions have forced people in many countries to work from home, triggering increasing demand for home furniture. Vietnamese furniture has been more and more favoured by importers as producers have strictly complied with rules of origin. Insiders, however, warned that rising orders may cause troubles for Vietnamese producers as disruptions in supply of material wood remain./.