Amid China’s suspension of log and sawn timber imports from the US, valued at around US$2 billion annually, Vietnam’s wood industry is expressing interest in taking in these materials for processing and re-export, particularly to the US market, which remains Vietnam’s largest importer of wood products.
According to the Ministry of Agriculture and Environment, Vietnam’s exports of wood and wood products reached an estimated $3.95 billion in the first quarter of 2025, up 11.6 percent year-on-year. The US remained Vietnam’s largest export market, accounting for 53.1 percent of total export value, followed by Japan (13.2 percent) and China (10.6 percent).
In 2024, Vietnam imported $316.36 million worth of timber from the US—a 32.9 percent increase over 2023—representing 11.2 percent of the country’s total timber import value.
The three main products included sawn timber, logs, and veneer, with a combined value of $311.96 million, or 98.6 percent of Vietnam’s imports from the US.
Specifically, log imports from the US reached 303,330 cubic metres, worth $89.9 million, up 41.4 percent in volume and 51.6 percent in value. Sawn timber imports totalled 428,980 cubic metres, equivalent to $215.32 million, up 20.8 percent in volume and 29.6 percent in value, while veneer imports hit 4,240 cubic metres, worth $6.72 million—rising by 103 percent and 108 percent, respectively.
Vice Chairman and Secretary General of the Vietnam Timber and Forest Products Association (VIFORES) Ngô Sỹ Hoài emphasised that US timber consistently meets legality standards required by major export markets such as the EU.
Currently, Vietnam is the second-largest supplier of furniture to the US, accounting for 38–40 percent of the country’s wood furniture imports, valued at an estimated US$23–24 billion annually.
At a meeting on April 7 with Minister of Agriculture and Environment Đỗ Đức Duy, Hoài noted that in 2024, Vietnam exported around $9.4 billion worth of timber and forest products to the US.
Vietnam also became the second-largest importer of US timber, indicating strong bilateral cooperation potential in the wood processing sector.
Currently, domestic timber production cannot meet the industry’s needs, leaving Vietnam heavily reliant on imports. Of the country’s $2.81 billion worth of wood and wood product imports in 2024, raw timber (HS code 44) accounted for 85.2 percent—nearly $2.4 billion. Logs and sawn timber remain the core products, making up more than 50 percent of import value.
Despite trade uncertainties, many wood businesses remain resilient and hopeful about the Government’s ongoing negotiations. Vietnam’s decision to waive import duties on timber shipments from the US signals goodwill and aims to foster bilateral trade cooperation while easing tensions.
In the long term, VIFORES has proposed that the Government continue supporting businesses through fiscal and monetary policies previously applied during the Covid-19 period—including tax deferrals, rent reductions and debt restructuring, to help the industry navigate current challenges.
