VIETNAM EXPORT AND IMPORT OF WOOD AND WOOD PRODUCTS IN THE FIRST QUARTER OF 2017

Monday, 22/05/2017, 08:33 GMT+7

According to the statistics from the General Department of Vietnam Customs, Vietnam’s export turnover of W&WP in March 2017 hit a record over US$713 million, up 57% from last month and increased by 22.31% compared with the same period of 2016. In which, the export turnover of wood products reached US$518 million, up 66.4% compared with February 2016 and up 22% in comparison with the same period of 2016.

VIETNAM EXPORT AND IMPORT OF WOOD AND WOOD PRODUCTS IN THE FIRST QUARTER OF 2017

I. EXPORT
- In March 2017, Vietnam’s export turnover of wood and wood products (W&WP) hit a record compared with the same period of 2016.

+ According to the statistics from the General Department of Vietnam Customs, Vietnam’s export turnover of W&WP in March 2017 hit a record over US$713 million, up 57% from last month and increased by 22.31% compared with the same period of 2016. In which, the export turnover of wood products reached US$518 million, up 66.4% compared with February 2016 and up 22% in comparison with the same period of 2016.

+ In the first quarter of 2017, Vietnam’s export W&WP achieved US$1.78 billion, increased by 17.1% compared with the same period of 2016. In which, the export turnover of wood products reached US$1.29 billion, up 14.3% compared with the same period of 2016, accounted for 72.64% of total export turnover of W&WP
in the whole country and down 74.43% in comparison with the same period of 2016.

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Reference to Vietnam export turnover of W&WP monthly in the period of 2014 - 2017

- FDI enterprises

+ In March 2017, Vietnam export turnover of W&WP in FDI enterprises reached nearly US$317 million, increased by 53.07% compared with February 2017. In which, the export turnover of timber products achieved US$286 million, up 57.5% compared to last month

+ In the first quarter of 2017, Vietnam export turnover of W&WP in FDI enterprises reached US$807 million, increased by 12% compared with the same period last year. In which, the export turnover of timber products achieved US$728 million, up 11.2% compared to the same period last year; accounted for 90.26% of total exports of W&WP in the whole sector and accounted for 56.32% of total exports of wood products in the whole industry.

Export markets

+ In March 2017, Vietnam export turnover of W&WP which hit a record with the strongest increase the US was China and Germany, with an increase of 75.93% and 47.85% over the previous month. Besides, the W&WP exports to another two key markets such as the US and Japan significantly increased by 22.68% and 17.49% compared with February 2017.

+ In the first quarter of 2017, the US was continuously the largest export market of W&WP in Vietnam, reached over US$691 million, up 15.96% over the same period last year, accounted for 39% of total export turnover of W&WP in the whole country. Besides, the W&WP exports to mostly other key markets such as China, Japan, Korea, Germany and Australia increased compared with the same period in 2016, only the UK market was down 8.1% in comparison with the same period of 2016.

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Reference to some Vietnam’s export markets W&WP in the first quarter of 2017

Reference to Vietnam’s export market structure of W&WP in March 2017

II. IMPORT

- IMPORT TURNOVER

According to the statistics from the General Department of Vietnam Customs, in addition to exports increased strongly, the W&WP import turnover into Vietnam in March 2017 also increased sharply by over US$219 million, up 39.7% over the previous month and up 44.7% over the same period last year. In the first quarter of 2017, the import turnover of W&WP into Vietnam reached US$519 million, up 23.4% in comparison to the same period last year. Thus, in the W&WP export - import, Vietnam had a trade surplus of US$1.26 billion in the first quarter of 2017.

- FDI enterprises: In March 2017, Vietnam import turnover of W&WP in FDI enterprises gained nearly US$61 million, increased by 48.5% compared with last month. In the first quarter of 2017, Vietnam import turnover of W&WP in FDI enterprises reached nearly US$139 million, increased by 9.32% compared with the same period last year, accounted for 26.74% of total imports of W&WP in the whole country.

- IMPORT MARKET:

+ In March 2017, the import turnover of W&WP from mostly key markets such as Cambodia, China, United States, Malaysia, Thailand, New Zealand has all increased strongly. In which, Chinese market increased by 121.3% over the previous month.

+ In the first quarter of 2017, Cambodia is the largest market which supplies W&WP for Vietnam and it is also the biggest bull market, achieved over US$98 million, up 109.46% over the same period last year. In contrast, only Thailand market reduced to 11.43% over the same period in 2016.