Vietnamese wood and wooden furniture enterprises have been facing many difficulties as export orders have dropped 50-60 percent since the beginning of this year, pushing firms to cut off at least half of their production capacities.
Data from the General Department of Customs showed that the export turnover of wood and wooden products reached 3.9 billion USD in the first four months, down 30.6 percent year-on-year. The export of wooden goods saw a yearly decline of 38 percent to $2.6 billion.
At the same time, the import value of wood and wooden products also decreased significantly to 634 million USD, down 33.6 percent over the same period last year.
During the four months, Vietnamese exports of these goods to major markets all decreased sharply such as the US (2.02 billion USD, 38 percent); Japan (556 million USD, 1.5 percent); the Republic of Korea (274 million USD, 22 percent) and China (481 million USD, 13 percent).
Analysts and businesses have said that the decrease in wood and wooden goods exports was foreseeable. They attributable the decline to inflation surges in some countries, which were also major importers of Vietnam’s wood and wooden goods, resulting in sluggish demand for these products.