Forest Product Exports Reach Record $17.3 Billion

Vietnam's forest product exports are expected to hit a record high of $17.3 billion in 2024, according to the Forestry Administration. This significant increase is driven largely by a surge in global demand for wood and wood products, which account for approximately $16.3 billion of the total export value. The remaining $1 billion comes from non-timber forest products. The US remains the largest importer of Vietnamese wood and wood products, accounting for over half of total exports. Increased demand and reduced inventories in the US market, coupled with shifts in global supply chains, have contributed to this growth. The Forestry Administration credits proactive forest management, including sustainable planting practices and a focus on quality control, for the sector's success. The robust performance of the forestry sector has resulted in a trade surplus of roughly $14.4 billion. Looking ahead to 2025, Vietnam aims to further increase forest product exports to $18 billion.