Vietnam’s wood, bamboo, and rattan products sector showed varied performance in September, according to Vietnam’s latest Industrial Production Index. The report showed an overall contraction of .9 points month on month and .7 points year on year but broken down this was a little more nuanced.
The category of sawing, planing, and preserving wood experienced a decrease in output, with a 3.4 percent drop compared to August 2024 and a 1.5 percent decline year-on-year. Despite these recent declines, the sector has showed resilience year-to-date, recording a 6.3 percent increase over the first nine months of 2024 compared to the same period in 2023. This suggests that while short-term fluctuations exist, long-term growth remains steady.
In contrast, the plywood, veneer, laminated wood, and other thin boards segment recorded strong growth. The subcategory saw a 4.4 percent increase from the previous month and a modest 1.1 percent year-on-year rise in September. Over the first nine months of 2024, this segment has surged by 12.8 percent compared to the same period last year, reflecting robust demand and stable production levels.
See also: Vietnam’s Wood Manufacturing Industry