Vietnam: Coniferous Roundwood Market 2024

Coniferous Roundwood Market Size in Vietnam

The Vietnamese coniferous roundwood market expanded markedly to $X in 2022, with an increase of 13% against the previous year. Overall, consumption enjoyed significant growth. Over the period under review, the market hit record highs in 2022 and is likely to see gradual growth in years to come.

Coniferous Roundwood Production in Vietnam

In value terms, coniferous roundwood production rose to $X in 2022 estimated in export price. In general, production showed significant growth. The growth pace was the most rapid in 2014 when the production volume increased by 91% against the previous year. Coniferous roundwood production peaked at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Coniferous Roundwood Exports

Exports from Vietnam

For the third year in a row, Vietnam recorded growth in shipments abroad of roundwood (coniferous), which increased by 22% to X cubic meters in 2022. In general, exports enjoyed a resilient increase. The pace of growth was the most pronounced in 2020 with an increase of 1,504%. 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, coniferous roundwood exports fell sharply to $X in 2022. Overall, exports posted prominent growth. The pace of growth was the most pronounced in 2020 when exports increased by 1,079%. The exports peaked at $X in 2021, and then contracted significantly in the following year.

Exports by Country

China (X cubic meters), Taiwan (Chinese) (X cubic meters) and South Korea (X cubic meters) were the main destinations of coniferous roundwood exports from Vietnam.

From 2012 to 2022, the biggest increases were recorded for South Korea (with a CAGR of +246.4%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for coniferous roundwood exported from Vietnam were Taiwan (Chinese) ($X), China ($X) and South Korea ($X).

South Korea, with a CAGR of +305.2%, recorded the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average coniferous roundwood export price stood at $X per cubic meter in 2022, reducing by -41.1% against the previous year. In general, the export price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 when the average export price increased by 293% against the previous year. The export price peaked at $X per cubic meter in 2021, and then dropped markedly in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was South Korea ($X per cubic meter), while the average price for exports to China ($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 Japan (+50.3%), while the prices for the other major destinations experienced more modest paces of growth.

Coniferous Roundwood Imports

Imports into Vietnam

Coniferous roundwood imports into Vietnam surged to X cubic meters in 2022, jumping by 45% compared with the year before. Over the period under review, imports saw a remarkable increase. The pace of growth appeared the most rapid in 2020 with an increase of 93% against the previous year. Imports peaked in 2022 and are expected to retain growth in years to come.

In value terms, coniferous roundwood imports skyrocketed to $X in 2022. Overall, imports saw prominent growth. The most prominent rate of growth was recorded in 2020 with an increase of 129% against the previous year. Imports peaked in 2022 and are likely to continue growth in years to come.

Imports by Country

In 2022, the United States (X cubic meters) constituted the largest supplier of coniferous roundwood to Vietnam, with a 70% share of total imports. Moreover, coniferous roundwood imports from the United States exceeded the figures recorded by the second-largest supplier, Japan (X cubic meters), more than tenfold. Australia (X cubic meters) ranked third in terms of total imports with a 4.9% share.

From 2012 to 2022, the average annual growth rate of volume from the United States amounted to +31.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (+6.9% per year) and Australia (+79.3% per year).

In value terms, the United States ($X) constituted the largest supplier of roundwood (coniferous) to Vietnam, comprising 62% of total imports. The second position in the ranking was held by Japan ($X), with a 10% share of total imports. It was followed by Australia, with a 4.4% share.

From 2012 to 2022, the average annual rate of growth in terms of value from the United States amounted to +34.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (+22.3% per year) and Australia (+65.2% per year).

Import Prices by Country

In 2022, the average coniferous roundwood import price amounted to $X per cubic meter, remaining stable against the previous year. Overall, the import price, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2021 an increase of 43%. Over the period under review, average import prices hit record highs at $X per cubic meter in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

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 Japan ($X per cubic meter), while the price for New Zealand ($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 Japan (+14.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :