15/07/2021
In the first 6 months of 2021, the export of wood and wood products to the EU market is estimated at 314 million USD, up 36.4% over the same period in 2020 and is forecasted to continue to increase in the last months of the year.
With a good growth momentum in the first half of 2021, experts predict that in the second half of 2021, Vietnam's export turnover of wood and wood products to the EU market will increase sharply when the Covid-19 epidemic is gradually controlled. The EU gradually eases epidemic prevention measures, opening up trade more conveniently. The economic prosperity of EU countries will be one of the factors supporting Vietnam's exports of wood and wood products to this market. In addition, the EVFTA Agreement is gradually being implemented more comprehensively and effectively. "Up to this point, wood exporting enterprises have received a lot of orders, especially from the US and EU" - Mr. Bui Chinh Nghia - Deputy Director of the General Department of Forestry (Ministry of Agriculture and Rural Development). village)- said.
Illustration (Source: Vietnam Economic News)
According to the annual practice, the demand for repair and completion of new houses increases sharply at the end of the year, so the demand for wooden furniture will increase accordingly. Many countries in the EU that produce main wooden furniture tend to increase imports from non-EU countries due to low prices, but designs still attract consumers.
Although exports to the EU market increased sharply, EU wooden furniture imported from Vietnam still accounted for a low proportion. This shows that the potential for market expansion for Vietnamese wood products exported to the EU is very large. The benefit to the wood industry when the EVFTA is signed is the reduction of non-tariff barriers such as traceability, accountability when exporting, creating a reputation for Vietnamese wood brand... Besides, the support The support of the EVFTA Agreement in the import of modern machinery will also help increase the productivity and competitiveness of the Vietnamese wood industry in the EU market.
However, according to experts, the export of wood and wood products also faces many difficulties and challenges when the evolution of the Covid-19 epidemic in the EU is still complicated; logistics costs, imported raw materials increased and the shortage of empty containers.
In the EU, Germany is the leading market in terms of export turnover of wood and wood products reaching $62.23 million, up 19% over the same period in 2020; France reached 55.04 million USD, up 29%; The Netherlands reached 45.47 million USD, up 60%,...
Vietnam Economic News
