Ash wood imported from the United States.
 

As China halts timber imports from the US, Viet Nam eyes an opportunity to boost its own timber intake for processing and re-export — reinforcing its position as a key player in the global wood furniture market.

Amid China’s suspension of log and sawn timber imports from the United States – valued at around US$2 billion annually – Viet Nam’s wood industry is expressing interest in taking in these materials for processing and re-export, particularly to the US market, which remains Viet Nam’s largest importer of wood products.

According to the Ministry of Agriculture and Environment, Viet Nam’s exports of wood and wood products reached an estimated $3.95 billion in the first quarter of 2025, up 11.6 per cent year-on-year. The US remained Viet Nam’s largest export market, accounting for 53.1 per cent of total export value, followed by Japan (13.2 per cent) and China (10.6 per cent).

In 2024, Viet Nam imported $316.36 million worth of timber from the US – a 32.9 per cent increase over 2023 – representing 11.2 per cent of the country’s total timber import value. The three main products included sawn timber, logs, and veneer, with a combined value of $311.96 million, or 98.6 per cent of Viet Nam’s imports from the US.

Specifically, log imports from the US reached 303,330 cubic metres, worth $89.9 million, up 41.4 per cent in volume and 51.6 per cent in value. Sawn timber imports totalled 428,980 cubic metres, equivalent to $215.32 million, up 20.8 per cent in volume and 29.6 per cent in value, while veneer imports hit 4,240 cubic metres, worth $6.72 million – rising by 103 per cent and 108 per cent, respectively.

Vice Chairman and Secretary General of the Viet Nam Timber and Forest Products Association (VIFORES) Ngô Sỹ Hoài emphasised that US timber consistently meets legality standards required by major export markets such as the EU.

Currently, Viet Nam is the second-largest supplier of furniture to the US, accounting for 38–40 per cent of the country’s wood furniture imports, valued at an estimated US$23–24 billion annually.

At a meeting on April 7 with Minister of Agriculture and Environment Đỗ Đức Duy, Hoài noted that in 2024, Viet Nam exported around $9.4 billion worth of timber and forest products to the US. Viet Nam also became the second-largest importer of US timber, indicating strong bilateral cooperation potential in the wood processing sector.

Currently, domestic timber production cannot meet the industry’s needs, leaving Viet Nam heavily reliant on imports. Of the country’s $2.81 billion worth of wood and wood product imports in 2024, raw timber (HS code 44) accounted for 85.2 per cent – nearly $2.4 billion. Logs and sawn timber remain the core products, making up more than 50 per cent of import value.

Despite trade uncertainties, many wood businesses remain resilient and hopeful about the Government’s ongoing negotiations. Viet Nam’s decision to waive import duties on timber shipments from the US signals goodwill and aims to foster bilateral trade cooperation while easing tensions.

In the long term, VIFORES has proposed that the Government continue supporting businesses through fiscal and monetary policies previously applied during the COVID-19 period – including tax deferrals, rent reductions and debt restructuring – to help the industry navigate current challenges.
     
Source: vietnamnews.vn