In the first half of 2023, the export of wood and wood products to the Japanese market decreased slightly

The Import and Export Department (Ministry of Industry and Trade) quoted statistics from the General Department of Customs as saying that the export value of wood and wood products to the Japanese market in June 2023 reached US$135 million, down 18.8% compared to June 2022.

First half of 2023, exporting wood and wood products to the Japanese market

Generally, in the first 6 months of 2023, the export value of wood and wood products to the Japanese market reached US$812.8 million, down 3.8% over the same period in 2022.

In the structure of wood products and wood products exported to the Japanese market in the first 6 months of 2023, wood chips and wood pellets are the two main items that recorded high growth rates.

Leading in export value was wood chips with USD 316.5 million, up 5.5% over the same period in 2022, accounting for 38.94% of total export value. Followed by wood pellets reached 191.1 million USD, up 27% over the same period in 2022.

Currently, Japan is developing many thermal power plants using wood chips and wood pellets, so the demand for these items will continue to increase in the coming time.

In addition to wood chips and wood pellets, wooden furniture is also one of the main export items to the Japanese market in the first 6 months of 2023, however, the export value of this item decreased sharply, due to inflation causing an increase in prices of many goods, which has significantly affected Japanese consumer sentiment.

Wooden furniture is a product that brings high added value to the wood industry, so it is necessary to boost exports.

Japan is a very potential market for wooden furniture because it is a market with large consumption power, with a population of nearly 126 million people and a high per capita income of about $38,662 per person in 2022.

In the short term, due to the impact of high inflation, Japan's demand for this item slows down, causing Vietnam's wooden furniture exports to be affected.

In the coming time, if the economy recovers, it will boost consumption demand of Japanese people.

Therefore, effectively taking advantage of commitments in new-generation free trade agreements (FTAs) to which Vietnam and Japan are both members, such as the Vietnam-Japan Economic Partnership Agreement (VJEPA), the ASEAN-Japan Comprehensive Economic Partnership Agreement (AJCEP), the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP)... .