Export of wood and wood products reached over $11 billion

According to estimates of the Agency of Foreign Trade (Ministry of Industry and Trade), the export value of wood and wood products in August 2022 reached US$1.35 billion, up 65% compared to August 2021. The export of wood products reached $851 million, up 60% compared to August 2021.

The export value of wood and wood products increased sharply in August 2022. In August 2021, the export value of wood and wood products was low because of social distancing to prevent the Covid-19 epidemic, disrupting wood production and export activities.

In addition, the conflict between Russia and Ukraine causes high energy prices, affecting transportation costs and input material prices. The conflict leads to an increase in the cost of export products, which also makes the export value of wood in August 2022 increase sharply compared to the same period in 2021.

Generally, in the first 8 months of 2022, the export value of wood and wood products is estimated at $11 billion, up 6.2% over the same period in 2021. The export of wood products is estimated at $7.77 billion, down 3% over the same period in 2021.