The wood industry is no longer the "golden goose"

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On the contrary, in the first 3 months of the year, Vietnamese wood enterprises imported 1.143 million m3 of raw wood, an increase of 22.5% in volume and 10.3% in value over the same period in 2024.

"The wood industry was previously considered a "golden goose", exporting a lot, creating many jobs, and the added value that Vietnamese people enjoyed was higher than other industries. However, up to now, the ability to maximize profits of the wood industry has decreased, it is no longer a "golden goose". Currently, wood enterprises are facing many difficulties and challenges. Accordingly, the global trade outlook in 2024 is forecasted to not really improve, continuing to have an unfavorable impact on the export activities of many industries, including wood products and forestry products.

Source: Business News - Entrepreneurs, May 1, 2024