According to a report by the Ministry of Agriculture and Environment, Vietnam’s exports of wood and wood products were estimated at $1.48 billion in August, bringing the total for the first eight months of 2026 to $11.69 billion, up 5% from the same period in 2025.

Wood and wood products were also the agricultural sector’s highest-earning export category during the eight-month period.

By export market, the US remained Vietnam’s largest buyer through the end of July 2026, accounting for 49.9% of the total. Exports to the US reached $5.09 billion, although this represented a 5.8% decline from the same period in 2025.

By contrast, exports to China reached $1.54 billion in the first seven months, soaring 46.4%.

China consequently accounted for 15% of Vietnam’s wood and wood product exports, an increase of 4.2 percentage points from the same period last year.

China has overtaken Japan to become the second-largest buyer of Vietnamese wood and wood products.

Exports of wood products to Japan, Malaysia, the Netherlands, Germany and the UK also recorded strong growth, indicating improving demand in several Asian and European markets and creating room for Vietnamese businesses to expand their market share.

According to the Ministry of Industry and Trade’s Agency of Foreign Trade, exports to the US declined as trade defense measures were strengthened.

On July 16, the US Department of Commerce announced its final determination in anti-dumping and countervailing duty investigations into hardwood and decorative plywood from Vietnam, setting a general anti-dumping duty of 84.95%.

Although the anti-dumping duty in the final determination was substantially lower than the preliminary rate of 196.14-199.69%, the Agency of Foreign Trade said it remained a major barrier for Vietnamese exporters.

According to a wood industry expert, US tariffs and trade defense measures could cause Vietnam’s wood industry to lose some orders, reducing the sector’s overall export revenue.

The expert stressed that the nearly 6% decline is a notable signal, but should not yet be interpreted as evidence that Vietnamese wood products are becoming less competitive in the US.

Vietnam’s wood industry has established a solid position in the US market and has become an important source of supply as American importers seek to diversify their furniture supply chains.

However, the impact of tariff policies is already becoming visible in market behavior. Importers are more cautious about signing long-term contracts, order cycles may become shorter, and suppliers are increasingly being asked to share the cost of tariffs. This means profit margins for Vietnamese exporters are likely to be squeezed.

The greatest risk, therefore, is that Vietnam’s wood industry could gradually lose its position in the supply chains of US importers. Once buyers switch to new suppliers and establish new inspection systems, logistics networks and product standards, winning back market share becomes significantly more difficult.

For Vietnam’s wood industry, maintaining the trust of customers in the US market is therefore more important than trying to retain orders at any cost, the expert noted.

The Ministry of Agriculture and Environment is coordinating with wood industry associations to help businesses respond to US anti-dumping and countervailing duty investigations involving hardwood plywood and participate in hearings related to the Section 301 investigation.

At the same time, the ministry has proposed measures to address difficulties involving value-added tax on wood exports in order to provide timely support for businesses.

Tam An