I.EXPORT

According to the statistics from the General Department of Vietnam Customs, Vietnam’s export turnover of wood and wood products (W&WP) in February 2019 achieved over US$401 million, and decreased by 8.28% compared with January 2019.

In which, the export turnover of wood products reached nearly US$262 million, down 9.89% compared with the same period last year.

However, cumulatively in the first 2 months of 2019, the export turnover of the W&WP in the whole country reached US$1.387 billion, up 13.1% over the same period last year.

In which, the export turnover of wood products reached US$997 million, up 15.6% over the same period in 2018, accounted for 72% of total export turnover of W&WP, up 70% compared with the same period last year.

Forecast:

The W&WP export turnover of Vietnam in 2019 continuously maintain the high growth, with the forecasted one by 12-15%.

Chart 1: Reference to Vietnam’s export turnover of W&WP monthly in the period of 2016 - 2019

(Unit: MillionUSD)

(Source: General Department of Vietnam Customs)

Chart 2: Reference to Vietnam’s export turnover of W&WP monthly in the period of 2009 - 2018

(Unit: BillionUSD)

 (Source: General Department of Vietnam Customs)

FDI enterprises:

For the first 2 months of 2019, the W&WP export turnover of FDI enterprises reached US$598 million, up 16.38% over the same period last year, accounted for 43.14% of the total W&WP export turnover in the whole country.

In particular, the export turnover of wood products reached over US$553 million, up 19.19% compared with the same period in 2019, accounted for 92.47% of total W&WP export turnover of FDI enterprises and accounted for 55.46 % of total the export turnover of wood products in the whole country.

Export markets

For the first 2 months of 2019, the United States is familiar with the largest W&WP export market of Vietnam, reached US$636 million, and reached the highest increase among Vietnam’s main W&WP export markets, up 34.12% compared to the same period last year. 

Besides, Japan, Germany, Malaysia and Taiwan also recorded a respective increase of 7.63%; 11.35%; 10.03% and up 25.7% over the same period last year.

In contrast, the W&WP export turnover for the first 2 months of 2019 to Chinese and French markets decreased by 10.92% and 9.97% compared to the same period in 2018.

Chart 3: Reference to Vietnam’s export market structure of W&WP in the first two months of 2018

(Source: General Department of Vietnam Customs)

Table 1: Reference to some Vietnam’s export markets W&WP in the first two months of 2019

(Unit:1.000 USD)

II. IMPORT

According to the statistics from the General Department of Vietnam Customs, the W&WP import turnover into Vietnam gained US$371 million, increased by 8.7% compared with the same period last year.

For the first 2 months of 2019, Vietnam had trade surplus of US$1.015 billion increased in comparison to US$868 million over the same period last year.

Chart 4: Import turnover of W&WP into Vietnam in the period of 2016 - 2019

(Unit:Million USD)

(Source: General Department of Vietnam Customs)

Chart 5: Import turnover of W&WP into Vietnam in the period of 2009-2018

(Unit: billion USD)

​(Source: General Department of Vietnam Customs)

FDI enterprises

For the first 2 months of 2018, the import turnover of W&WP in FDI enterprises achieved US$100 million, up 13.65% compared to 2017; accounted for 27% of the total W&WP import turnover in the whole country.

Import markets

For the first 2 months of 2018, the import turnover of W&WP from many key markets sharply increased: China up 12.28%; Thailand up 11.29%; Chile up 44.64% etc compared to the same period in 2018.

In contrast, the W&WP import turnover from Laos market dropped sharply, only reached nearly US$14 million, down 57% compared to the same period last year.

Chart 6: Reference to the supplying market structure of W&WP for Vietnam in the first two months of 2018 

(Source: General Department of Vietnam Customs)

Table 2: Reference to some supplying markets of W&WP for Vietnam in the first 2 months of 2019

(Unit: 1.000 USD)

(Source: General Department of Vietnam Customs)

GO VIET No 109- March, 2019