Page 31 - FDMAsia MayJun 2025

FOCUS 29
www.fdmasia.com | FDM ASIA MAY/JUN 2025

second cut since February when rates were brought down after amounted to US$94.40 million, an increase of 36 percent
nearly five years. The RBI also lowered its growth projections compared to February 2025 and up 4.5 percent compared
for this year from 6.7 percent to 6.5 percent. to the same period in 2024.
Analysts point out the RBI shifted its monetary policy In the first three months of 2025 export of handicrafts

stance to "accommodative" from "neutral", which means that reached US$260.10 million, an increase of 2.5 percent compared
the central bank would be more open to cutting rates in the to the same period in 2024.
future to stimulate a slowing economy. Vietnam’s NTFP exports in March 2025 reached US$78.44
RBI governor, Sanjay Malhotra, said in a speech "concerns million, an increase of 39 percent compared to February 2025
on trade frictions are coming true and unsettling the global and up six percent compared to the same period in 2024.
community” adding that headwinds from disruptions to trade In the first three months of 2025, exports of these products
would continue to pose challenges for the economy. contributed US$209 .18 million, up four percent compared to
the same period in 2024.
VIETNAM

Wood and Wood Product (W&WP) trade highlights Promoting transparency and restructuring production in
According to statistics provided by Vietnam Office of Customs the timber industry
the W&WP exports in April 2025 reached US$1.4 billion, an In the context of possible imposition of reciprocal tariffs by
increase of three percent compared to April 2024. Of which, the US businesses are gently trying to assess the impact on
WP exports contributed US$964 million, up 2.7 percent exports to the US.
compared to April 2024. Promoting the application of technology to optimise
In the first four months of 2025, W&WP exports totalled production processes, control quality, trace the origin of raw

US$5.3 billion, an increase of nine percent over the same materials and manage input factors are emerging as key
period in 2024. Of which WP exports alone, fetched US$3.6 solutions for enterprises in the wood industry.
billion, up nine percent compared to the same period in 2024. According to the Ministry of Agriculture and Environment
Vietnam’s W&WP exports to the EU in April 2025 were the US remains the largest consumer of Vietnamese wood
valued US$54 million, up 23 percent compared to April 2024. and wood products representing 53 percent of total exports.
In the first four months of 2025, exports to the EU have been Binh Dinh Province is home to more than 300 wood-
estimated at US$215 million, an increase of four percent processing enterprises with major export products consisting
compared to the same period in 2024. of indoor and outdoor furniture, wood pellets and woodchips.
Raw wood (logs and sawnwood) imports in April 2025

reached 631,000 cu.m valued at US$195.6 million, an increase
of eight percent in volume and 10 percent in value compared Amal Makruf
to March 2025 and up 39 percent in volume and 28 percent
in value compared to April 2024.
In the first four months of 2025, raw wood imports stood
at 2.09 million cubic metres, valued at US$647.3 million, up
38 percent in volume and 29 percent in value compared to

the same period in 2024.
Vietnam’s export of handicraft products in March 2025