Vietnam’s wood exports have fallen sharply due to lack of orders

Vietnam’s wood industry has unexpectedly fallen into an unprecedented slump amid a sharp decline in orders. According to the Vietnam Association of Timber and Forestry Products (Vifores), Vietnamese exports of timber and wood products during the first three months of the year dropped by 28.3% to US$2.88 billion against the same period last year. Of the figure, the export value of wood products stood at an estimated US$1.87 billion, an annual drop of 38.5%. March alone witnessed timber and wood products rake in US$1.2 billion in export turnover ...