The export of wood chips and wood pellets saw a significant increase in 2022, with wood chips reaching $2.7 billion, up 54.9% from 2021, and wood pellets reaching $778.5 million, up 83.6% from the previous year. According to the Import and Export Department of the Ministry of Industry and Trade, these items accounted for a larger proportion of exported wood and wood products in 2022, with wood chips accounting for 16.77% of the total export value, up 5.06 percentage points from 2021, and wood pellets accounting for 4.86%, up 2 percentage points from the previous year.
The growing demand for wood chips and pellets in the world market can be attributed to countries’ efforts to reduce greenhouse gas emissions and replace fossil fuels with sustainable alternatives. Additionally, the conflict between Russia and Ukraine has prompted EU countries to seek alternative sources of gas, creating opportunities for Vietnam’s wood chip and pellet exports in the future.
However, the export of wooden furniture, which is a key export item with high added value, has faced challenges due to the global economic difficulties caused by the COVID-19 pandemic and the conflict between Russia and Ukraine. In 2022, the export value of wooden furniture was $9.96 billion, a decrease of 0.4% compared to 2021, and is expected to continue to face difficulties in the coming year.