Nine-month wood exports to Japanese market hit over US$1billion
VOV.VN - Despite experiencing a downward trajectory in August and September, the nation’s timber and wood exports to Japan during the opening nine months of the year surged 10% to reach US$1.02 billion against the same period last year, according to the General Department of Vietnam Customs.
Timber and wood exports to the Japanese market in August and September dropped by 17.2% and 17% to US$96.2 million and US$90 million, respectively, compared to last year’s corresponding period.
This decline can largely be attributed to the impact of the COVID-19 pandemic on the nation as it has made production and export activities encounter numerous difficulties.
With regard to the structure of timber and wood products, wooden furniture and wood chips remain the most significant export items to the demanding market.
According to statistics compiled by Japan Customs, Japanese wooden furniture imports during the eight-month period reached 540,000 tonnes worth US$1.55 billion, thereby representing a year-on-year rise of 9.7% in volume and 12.7% in value.
Most notably, both the nation and China were the two biggest suppliers of wooden furniture to Japan throughout the reviewed period, of which imports from the Chinese and Vietnamese markets accounted for 47.8% and 25.4% of Japan’s total imports of the product, respectively.
Moving forward, the country’s COVID-19 containment efforts, its ongoing vaccination drive and advantages of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) in the wood industry is anticipated to boost the exports of timber and wood products to the fastidious market in the remaining month of the year.
