{"id":86967,"date":"2023-11-03T06:54:54","date_gmt":"2023-11-03T06:54:54","guid":{"rendered":"https:\/\/tin.happy-projects.ro\/vietnamese-wood-processors-awaiting-market-recovery\/"},"modified":"2025-09-19T09:01:02","modified_gmt":"2025-09-19T09:01:02","slug":"vietnamese-wood-processors-awaiting-market-recovery","status":"publish","type":"post","link":"https:\/\/www.timberindustrynews.com\/ro\/vietnamese-wood-processors-awaiting-market-recovery\/","title":{"rendered":"Vietnamese wood processors awaiting market recovery"},"content":{"rendered":"

Vietnamese wood businesses are facing countless difficulties due to a lack of orders, rising costs and slow VAT tax refunds. Many have scaled back operations as they wait for the market to recover.<\/span><\/p>\n

The latest statistics from Vietnam Customs show that in the 12 months to 15 September Vietnam\u2019s total export value reached US$242.04 billion, down US$23.44 billion or 9% year-on-year. Of which, shipments of wood and wood products fetched US$9.01 billion, a decrease of 23% compared to the figure of US$11.67 billion achieved in the same period last year.<\/p>\n

Vietnam\u2019s wood industry is targeting exports of US$17 billion in 2023. However, exports of wood and wood products have been slow this year with most businesses facing a shortage of orders.<\/p>\n

In the first eight months of 2023 Vietnam's exports of wood and wood products reached about US$8.3 billion, down nearly 26% year-on-year.<\/p>\n

\"Since May 2023 Vietnam's exports of wood and wood products have shown signs of a recovery, with over US$1.2 billion in exports per month on average. Meanwhile, Vietnamese raw wood imports have climbed 5-10% per month.<\/p>\n

This shows that wood producers are preparing for year- end orders said Nguyen Chanh Phuong, Vice Chairman of HAWA.<\/p>\n

He predicted that exports in the final quarter of this year could bring home an additional US$6 billion raising the total exports in 2023 to between US$14-14.5 billion.<\/p>\n

Regarding the recovery prospects of the wood industry a representative of Thien Thanh Phat Timber Co., Ltd said that the wood industry is completely dependent on international markets. When the world economy remains unsettled the Vietnamese wood industry struggles.<\/p>\n

According to Le Hoang Hai, director of CMH Vietnam Import-Export Trading Co., Ltd., there are signs of uneven recovery in the wood industry reflected in the irregular number of orders while at the same time raw material prices are escalating.<\/p>\n

\"The current wood market is unpredictable, with unstable prices and orders. For example, to produce domestic furniture we need to buy wood. But furniture orders are irregular with only short-term orders of two or three months causing difficulties for the balancing of production materials.<\/p>\n

The recovery of the wood market depends much on the real estate industry which is forecast by the Vietnam National Real Estate Association to remain quiet until the end of 2023 and only recover and develop healthier from the second or third quarter of 2024, thanks to legal improvements, economic growth and removal of financial bottlenecks.<\/p>\n

In addition, many wood businesses revealed that one of the current difficulties is the delay in refunding value- added tax (VAT). In fact, many of them have had tax refunds delayed for two years in a row which disrupts their financial planning.<\/p>","protected":false},"excerpt":{"rendered":"

Vietnamese wood businesses are facing countless difficulties due to a lack of orders, rising costs and slow VAT tax refunds. Many have scaled back operations as they wait for the market to recover. The latest statistics from Vietnam Customs show … Continue reading →<\/span><\/a><\/p>","protected":false},"author":1,"featured_media":96155,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[4716],"tags":[],"class_list":["post-86967","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-latest-trends"],"acf":[],"yoast_head":"\nVietnamese wood processors awaiting market recovery - Timber Industry News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.timberindustrynews.com\/ro\/vietnamese-wood-processors-awaiting-market-recovery\/\" \/>\n<meta property=\"og:locale\" content=\"ro_RO\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Vietnamese wood processors awaiting market recovery - Timber Industry News\" \/>\n<meta property=\"og:description\" content=\"Vietnamese wood businesses are facing countless difficulties due to a lack of orders, rising costs and slow VAT tax refunds. 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