According to the Ministry of Industry and Trade's Export and Import Department, wood product exports in November alone reached 1.15 billion USD, up 20.9% compared to October 2021 but down 7.4% compared to November 2020. Of which, the export value of wood products reached 840 million USD, up 35.4% compared to October 2021 but down 17.3% compared to November 2020.
Currently, the production situation has returned to normal and businesses operating in the wood industry are accelerating production to keep up with signed export orders for the last month of the year and the first half of 2022. Export activity of the wood industry increased continuously in October and November 2021, although the export value is still not equal to the same period in 2020.
In general, the wood industry still witnessed good growth in the first 11 months of 2021, thanks to the efforts of enterprises to maintain production when the epidemic broke out in many provinces and cities across the country, and production recovered quickly after the ease of social distancing.
With the current growth rate, it is estimated that the export value of wood and wood products will reach 14.3 billion USD in 2021, up 14.3% compared to 2020 and completing 98.7% of the target set for the year.
The growth driver of the wood industry focuses on the group producing wooden furniture. The export value of this group of products accounted for 67.6% of the total export value of wood and wood products in the first 11 months of 2021, reaching 8.2 billion USD, up 21.7% over the same period in 2020.