Vietnam: Market for Saw Logs And Veneer Logs (Non-Coniferous) 2024

Market Size for Saw Logs And Veneer Logs (Non-Coniferous) in Vietnam

The Vietnamese market for saw logs and veneer logs (non-coniferous) fell modestly to $X in 2022, remaining relatively unchanged against the previous year. The market value increased at an average annual rate of +1.8% from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being recorded throughout the analyzed period. As a result, consumption reached the peak level of $X. From 2019 to 2022, the growth of the market remained at a somewhat lower figure.

Production of Saw Logs And Veneer Logs (Non-Coniferous) in Vietnam

In value terms, production of saw logs and veneer logs (non-coniferous) fell to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +1.3% from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations in certain years. The most prominent rate of growth was recorded in 2018 with an increase of 17%. As a result, production reached the peak level of $X. From 2019 to 2022, production of growth remained at a somewhat lower figure.

Exports of Saw Logs And Veneer Logs (Non-Coniferous)

Exports from Vietnam

In 2022, shipments abroad of saw logs and veneer logs (non-coniferous) increased by 237% to X cubic meters, rising for the third consecutive year after two years of decline. Over the period under review, exports, however, saw a sharp slump. Over the period under review, the exports of hit record highs at X cubic meters in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

In value terms, exports of saw logs and veneer logs (non-coniferous) soared to $X in 2022. In general, exports, however, recorded a dramatic descent. The exports peaked at $X in 2015; however, from 2016 to 2022, the exports remained at a lower figure.

Exports by Country

China (X cubic meters), Hong Kong SAR (X cubic meters) and Taiwan (Chinese) (X cubic meters) were the main destinations of exports of saw logs and veneer logs (non-coniferous) from Vietnam, with a combined 88% share of total exports. Pakistan, South Korea and India lagged somewhat behind, together comprising a further 6.9%.

From 2012 to 2022, the biggest increases were recorded for South Korea (with a CAGR of +13.1%), while shipments for the other leaders experienced mixed trend patterns.

In value terms, China ($X) remains the key foreign market for saw logs and veneer logs (non-coniferous) exports from Vietnam, comprising 68% of total exports. The second position in the ranking was taken by Hong Kong SAR ($X), with a 14% share of total exports. It was followed by Pakistan, with a 4% share.

From 2012 to 2022, the average annual rate of growth in terms of value to China amounted to -23.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Hong Kong SAR (-26.0% per year) and Pakistan (+5.6% per year).

Export Prices by Country

In 2022, the average export price for saw logs and veneer logs (non-coniferous) amounted to $X per cubic meter, growing by 9.4% against the previous year. In general, export price indicated a noticeable increase from 2012 to 2022: its price increased at an average annual rate of +3.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, export price for saw logs and veneer logs (non-coniferous) decreased by -0.4% against 2018 indices. The pace of growth was the most pronounced in 2015 an increase of 109%. The export price peaked at $X per cubic meter in 2018; however, from 2019 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was China ($X per cubic meter), while the average price for exports to Taiwan (Chinese) ($X per cubic meter) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to China (+10.7%), while the prices for the other major destinations experienced a decline.

Imports of Saw Logs And Veneer Logs (Non-Coniferous)

Imports into Vietnam

In 2022, after two years of decline, there was significant growth in overseas purchases of saw logs and veneer logs (non-coniferous), when their volume increased by 10% to X cubic meters. In general, imports enjoyed a prominent expansion. The most prominent rate of growth was recorded in 2017 when imports increased by 64%. Imports peaked at X cubic meters in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

In value terms, imports of saw logs and veneer logs (non-coniferous) dropped to $X in 2022. Overall, imports recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 with an increase of 32%. Imports peaked at $X in 2017; however, from 2018 to 2022, imports failed to regain momentum.

Imports by Country

Cameroon (X cubic meters), the United States (X cubic meters) and Congo (X cubic meters) were the main suppliers of imports of saw logs and veneer logs (non-coniferous) to Vietnam, together accounting for 45% of total imports. Belgium, Suriname, Germany, France, Democratic Republic of the Congo, Nigeria, Central African Republic, China, Uruguay and Ghana lagged somewhat behind, together comprising a further 39%.

From 2012 to 2022, the biggest increases were recorded for Suriname (with a CAGR of +95.4%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Cameroon ($X), the United States ($X) and Congo ($X) constituted the largest saw logs and veneer logs (non-coniferous) suppliers to Vietnam, together accounting for 47% of total imports. Belgium, Nigeria, France, China, Germany, Suriname, Democratic Republic of the Congo, Ghana, Uruguay and Central African Republic lagged somewhat behind, together accounting for a further 36%.

Among the main suppliers, Suriname, with a CAGR of +111.0%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average import price for saw logs and veneer logs (non-coniferous) amounted to $X per cubic meter, with a decrease of -18.9% against the previous year. Overall, the import price continues to indicate a deep contraction. The pace of growth appeared the most rapid in 2015 when the average import price increased by 26% against the previous year. Over the period under review, average import prices reached the peak figure at $X per cubic meter in 2016; however, from 2017 to 2022, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was China ($X per cubic meter), while the price for Central African Republic ($X per cubic meter) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Suriname (+8.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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