In the first half of the year, timber trade between Vietnam and China fell by 37%
According to data released by the General Administration of Customs of Vietnam, Vietnam's exports of timber and wood products reached US$1.1 billion in June, up 3.7% month-on-month and down 23% year-on-year. Among them, the total value of wood products exports reached US$750 million, down 1.3% month-on-month and 21% year-on-year.
Looking at the export data for the entire first half of the year, Vietnam's exports of timber and wood products reached US$6.1 billion, down 28% year-on-year. Among them, as the main export product, Vietnam's wood products accounted for a relatively large export value in the first half of the year, with a total value of US$4.1 billion, down 32% year-on-year. Vietnam's exports of timber and wood products have not yet recovered to last year's level.
In terms of imports, Vietnam's imports of timber and wood products reached US$190 million in June this year, down 12% month-on-month and 37% compared with the same period last year. In the first six months of this year, overall imports of timber and wood products totaled $1.04 billion, down 34% year-on-year.
Among them, the import of oak has increased. Oak imports in the first half of the year reached 140,000 cubic meters, a year-on-year increase of 6%; Value of $78.5 million decreased 8% sequentially. In the case of June, the volume reached 35,800 cubic meters, up 6% month-on-month and 12% year-on-year; Value of $19.7 million increased 5% sequentially and decreased 11% sequentially.
In terms of timber trade with China, in June 2023, Vietnam imported a total of 48,000 cubic meters of wood raw materials worth US$23 million, an increase of 6% in volume and value by 6% and 6% respectively compared to May 2023, but decreased by 32% and 48% in volume and value respectively compared to June 2022.
Throughout the first half of the year, Vietnam's imports of wood raw materials from China reached 251,500 cubic meters, worth 120.96 million US dollars, compared with the same period in 2022, the quantity decreased by 37% and the value decreased by 45%.
