Vietnam: Sawnwood (Non-Coniferous) Market 2024

Sawnwood (Non-Coniferous) Market Size in Vietnam

In 2022, the Vietnamese sawnwood (non-coniferous) market increased by 3.8% to $X, rising for the third consecutive year after five years of decline. In general, consumption, however, continues to indicate a perceptible descent. Sawnwood (non-coniferous) consumption peaked at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Sawnwood (Non-Coniferous) Production in Vietnam

In value terms, sawnwood (non-coniferous) production contracted modestly to $X in 2022 estimated in export price. In general, production continues to indicate a abrupt shrinkage. The growth pace was the most rapid in 2016 when the production volume increased by 1.3%. Sawnwood (non-coniferous) production peaked at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Sawnwood (Non-Coniferous) Exports

Exports from Vietnam

For the third year in a row, Vietnam recorded decline in shipments abroad of sawnwood (non-coniferous), which decreased by -45.5% to X cubic meters in 2022. Overall, exports showed a pronounced setback. The pace of growth appeared the most rapid in 2013 with an increase of 161%. The exports peaked at X cubic meters in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

In value terms, sawnwood (non-coniferous) exports contracted notably to $X in 2022. Over the period under review, exports continue to indicate a abrupt slump. The most prominent rate of growth was recorded in 2013 when exports increased by 115% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

China (X cubic meters) was the main destination for sawnwood (non-coniferous) exports from Vietnam, accounting for a 59% share of total exports. Moreover, sawnwood (non-coniferous) exports to China exceeded the volume sent to the second major destination, South Korea (X cubic meters), threefold. The third position in this ranking was held by the United States (X cubic meters), with a 7.7% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to China totaled +6.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: South Korea (+4.0% per year) and the United States (+42.6% per year).

In value terms, China ($X) emerged as the key foreign market for sawnwood (non-coniferous) exports from Vietnam, comprising 49% of total exports. The second position in the ranking was held by the United States ($X), with a 17% share of total exports. It was followed by South Korea, with a 12% share.

From 2012 to 2022, the average annual growth rate of value to China amounted to +1.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+42.1% per year) and South Korea (-5.0% per year).

Export Prices by Country

In 2022, the average sawnwood (non-coniferous) export price amounted to $X per cubic meter, picking up by 24% against the previous year. In general, the export price, however, saw a perceptible reduction. Over the period under review, the average export prices attained the peak figure at $X per cubic meter in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was the United States ($X per cubic meter), while the average price for exports to South Korea ($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 the United States (-0.4%), while the prices for the other major destinations experienced a decline.

Sawnwood (Non-Coniferous) Imports

Imports into Vietnam

For the fourth year in a row, Vietnam recorded growth in overseas purchases of sawnwood (non-coniferous), which increased by 16% to X cubic meters in 2022. In general, total imports indicated a strong expansion from 2012 to 2022: its volume increased at an average annual rate of +9.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +40.3% against 2018 indices. The pace of growth was the most pronounced in 2013 when imports increased by 78% against the previous year. Imports peaked at X cubic meters in 2014; however, from 2015 to 2022, imports failed to regain momentum.

In value terms, sawnwood (non-coniferous) imports declined remarkably to $X in 2022. Overall, imports, however, saw a mild curtailment. The most prominent rate of growth was recorded in 2014 with an increase of 53% against the previous year. As a result, imports attained the peak of $X. From 2015 to 2022, the growth of imports failed to regain momentum.

Imports by Country

In 2022, Myanmar (X cubic meters) was the main sawnwood (non-coniferous) supplier to Vietnam, with a approx. 100% share of total imports.

From 2012 to 2022, the average annual growth rate of volume from Myanmar amounted to +377.4%.

In value terms, Myanmar ($X) constituted the largest supplier of sawnwood (non-coniferous) to Vietnam.

From 2012 to 2022, the average annual growth rate of value from Myanmar stood at +348.2%.

Import Prices by Country

The average sawnwood (non-coniferous) import price stood at $X per cubic meter in 2022, shrinking by -47.3% against the previous year. Overall, the import price continues to indicate a deep slump. The pace of growth appeared the most rapid in 2021 when the average import price increased by 17%. Over the period under review, average import prices attained the peak figure at $X per cubic meter in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

As there is only one major supplying country, the average price level is determined by prices for Myanmar.

From 2012 to 2022, the rate of growth in terms of prices for Lao People's Democratic Republic amounted to -2.7% per year.

Source: IndexBox Platform

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