Vietnam exported timber and wood products worth $8.38 billion in the first nine months of 2020, up 11.2% vs. one year ago. Shipments to the U.S. exceeded $4.19 billion in the first eight months of 2020, an increase of 27.4%.
According to this article, Vietnam has enjoyed a surge in timber and wood product exports to the U.S. this year, but businesses are being encouraged to choose the right items to focus on in order to tap into the U.S. market.
The Vietnam Timber and Forest Product Association (Vifores) Chairman, Do Xuan Lap, explained that items with strong export growth benefit from the US anti-dumping and anti-subsidy duties on the Chinese ones, which have encouraged U.S. firms to switch to Vietnam to partly make up for supply shortages.
Timber and wood product exports are predicted to hit 12.5 billion USD this year thanks to the sharp rise in sales to the U.S. and a peak export season that falls in the final months of the year.