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Exports on a strong footing Timber Legality Assurance System, strengthen links across
Vietnam plans to raise the export target for wood and timber the supply chain from forest growers to processing and
products to US$18 billion in 2025 from the US$16.25 billion export enterprises and support businesses in engaging in
in 2025 according to the Ministry of Agriculture and Rural international trade fairs to both secure contracts and boost

Development (MARD). Vietnamese wood products.
The target was set with markets such as the US, China,
Japan, South Korea and the European Union all recovering, JAPAN
thereby boosting purchasing power. Production and export of Recovery in business spending
the wood and wood product has been expanding since the The economy expanded an annualised 2.8 percent in the 2024
beginning of the year according to some company leaders. October-December quarter according to Cabinet Office data
Tran Lam Son, CEO of Thien Minh Furniture Company, backed by a recovery in business spending.
said orders, mainly from the EU and the US have increased The positive figures will likely support the Bank of Japan's
sharply since the middle of the last quarter. plan to keep raising interest rates and normalise monetary policy.

Son continued “transport often accounts for a large part While the latest wage and household spending indicators
of the production cost, thus, to maximise efficiency the showed encouraging signs analysts are anticipating price
Handicraft and Wood Industry Association of Ho Chi Minh City pressures will delay a full recovery in personal consumption
has recently gathered export enterprises, calculated market in the short-term.
demand in each market, negotiated freight rates with shipping In mid-February the government maintained its view that
lines to get the best prices and increased competitiveness for the Japanese economy is recovering moderately but noted
Vietnamese wooden furniture manufacturers.” that consumer spending has yet to fully pick up. There was

If there are no unexpected fluctuations, the wooden furniture also a mention that US tariff threats, if implemented, would
and interiors industry can continue to achieve export growth slow export growth.
of 20 percent, and many enterprises have even set a growth Exports were supported by strong shipments to Asia,
target of 20-30 percent”, Son said. driven by solid demand for production machinery in China and
According to MARD of the 15 main export markets the chip-manufacturing equipment in some other Asian countries.
export value of wood and wood products increased the most The report also said "full attention should be given to US
in Spain, with an increase of over 63 percent year on year. economic policies as a series of higher tariffs are planned
In addition, certain export products increased well, such as on imports”.
wood chips (up nearly 38%), as well as timber and wood

products (up over 20%).
Phung Quoc Man, Chairman of the Handicraft and wood Angela Sevin
industry association of Ho Chi Minh City (HAWA), said, “the
global furniture market is valued at more than US$516 billion
while the exports of Vietnamese enterprises is only US$16
billion. This indicates that the industry has a lot of room for
development, but competition will also be fierce.”

Tran Quang Bao, Director General of the Department of
Forestry, said the Department aims to promote Vietnam’s