2024 continues to affirm Vietnam’s position in the global wood supply chain, with an estimated export turnover of wood and wood products reaching 17.3 billion USD, maintaining the leading group in Asia in wood processing (VNForest, 2024). Deep production capacity, cost competitiveness and a developed business ecosystem help Vietnam become an important destination in the global furniture supply chain.
Raw material supply: Domestic plantations and imports
Domestic plantation wood continues to play a core role. The 2024 exploitation output will reach about 23.3 million m³, mainly acacia, eucalyptus and pine, serving the production of industrial panels and some sawn timber (B&Company, 2024).
However, to meet high quality export requirements, Vietnam still relies significantly on imported raw materials. The import value of raw wood and wood products reached 2.8 – 2.9 billion USD, with about 353,600 m³ of imported round wood/ sawn timber in the first half of 2024 alone (KFLV, 2024).
Main supply sources:
North America: US, Canada (hardwood, transparent origin)
Europe & Russia (softwood for deep processing)
New Zealand, Australia (stable plantation wood)
Diversification of supply sources continues to be a strategic requirement to ensure stability and compliance with international standards such as EUDR and Lacey Act.
Raw material structure: Natural wood, industrial wood and recycled wood
Raw material group
Trend
Role
Natural wood
Maintain at a selective level, prioritize FSC
Premium products, exported to the US/EU
Industrial wood (MDF, HDF, PB, OSB)
Strong growth, optimizing planted forests
Accounting for a large proportion of exported furniture
Recycled wood
Gradually increasing, still small
Meeting environmental standards, circular economy
Industrial wood is the focus of growth, supporting to reduce pressure on natural forests and increase export profit margins. Recycled wood is expected to increase rapidly in 2025–2028, linked to sustainability requirements from the US and EU (Vietnam-Briefing, 2024).
Trade Value and Target Markets
Category
Value 2024
Wood and Wood Products Exports
17.3 billion USD
Raw Material Imports
2.8 – 2.9 billion USD
Imports from the US
~316 million USD (WTO Center, 2024)
Main Export Markets:
US (accounting for the majority of export value)
Japan
EU
China
Demand for green furniture, traceability, and sustainable materials continues to drive the 2024–2025 manufacturing strategy.
Prospects and recommendations for Vietnamese enterprises
Highlights for the future of Vietnam’s wood industry:
Expanding FSC forest plantation areas
Increasing the proportion of industrial and recycled wood
Applying digital traceability
Investing in low-carbon production technology
Proactively sourcing legal wood globally
In the context of increasing global competition and environmental standards, Vietnamese enterprises need to shift from “cost-effective production” to “sustainable value chains that meet international standards”.
Terminology notes
[1] EUDR (European Union Deforestation Regulation): The European Union’s anti-deforestation regulation, requiring enterprises exporting to the EU to ensure that goods are not related to deforestation or forest degradation after December 31, 2020 and are traceable to the geographical coordinates of the production area. Applicable to many agricultural and forestry industries, including wood and wood products.
[2] Lacey Act (United States Lacey Act): The United States Animal and Plant Protection Act, amended in 2008 to control timber and timber products. Requires declaration of timber type, origin, country of harvest and proof of legality. Violations may result in confiscation of goods, civil penalties or criminal prosecution.
References
VNForest (2024). Overview of Vietnam’s forestry industry: SUMMARY REPORT ON FORESTRY INDUSTRY PERFORMANCE RESULTS IN 2024
B&Company (2024). Vietnam Wood Industry Market Study.
Vietnam’s Wood industry in 2024 and Prospects for Sustainable development – B-Company
KFLV (2024). Vietnam Timber Import Database.
https://kflv.vn/en/wood-import-in-2025/?utm_source
Vietnam-Briefing (2024). Vietnam Wood Sector Outlook.
https://www.vietnam-briefing.com/news/vietnams-wood-industry-2025-challenges-new-opportunities.html/?utm_source
WTOCenter (2024). Vietnam Timber Trade Trends.
https://wtocenter.vn/chuyen-de/28434-vietnams-wood-industry-braces-for-trade-defense-challenges?utm_source
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