Vietnam Wood Comprehensive Report Q2/2019
VIETNAM WOOD INDUSTRY
The global wood industry has grown strongly in recent years, The consumption of wood and wood products increased sharply due to the economic recovery in main consuming countries such as the US and EU. In the period of 2012-2016, the global wood processing market achieved an annual growth rate (CAGR) of 7.2% and was expected to achieve a CAGR of 9.2% in the period of 2016-2020.
Vietnam's wood processing industry has become a key export industry, ranking fourth only after coffee, seafood and machinery, spare parts. Generally in Q1/2019, the area of concentrated plantation nationwide was estimated to increase by 1.4% compared to the same period last year. The domestic supply of timber plantation plays an important role in producing exported goods.
Vietnam has become the leading wood exporter in Southeast Asia and the seventh in the world in exporting wood products. In Q1/2019, wood and wood products export turnover was estimated to increase 16.2% over the same period in 2018. Wood and wood products are mainly exported to the US market, accounting for 45.38% of the proportion and rising 34.6% compared to the same period last year.
In Q1/2019, the woodchip production was estimated at nearly one third of the whole 2018, and increased by 59.6% over the same period last year. Woodchip is one of Vietnam's most important exports, in Q1/2019, the exports reached 371.6 million USD.
Vietnam's wood industry has many advantages compared to the wood industry in the region. With FTAs taking effect from 2019, the wood industry will enter a new period with many export growth prospects. With the export prospects of the wood processing industry, the industry associations and business associations agreed to set the total production value of the wood processing industry in 2019 to US $ 10.2 billion.
The global wood industry has grown strongly in recent years, The consumption of wood and wood products increased sharply due to the economic recovery in main consuming countries such as the US and EU. In the period of 2012-2016, the global wood processing market achieved an annual growth rate (CAGR) of 7.2% and was expected to achieve a CAGR of 9.2% in the period of 2016-2020.
Vietnam's wood processing industry has become a key export industry, ranking fourth only after coffee, seafood and machinery, spare parts. Generally in Q1/2019, the area of concentrated plantation nationwide was estimated to increase by 1.4% compared to the same period last year. The domestic supply of timber plantation plays an important role in producing exported goods.
Vietnam has become the leading wood exporter in Southeast Asia and the seventh in the world in exporting wood products. In Q1/2019, wood and wood products export turnover was estimated to increase 16.2% over the same period in 2018. Wood and wood products are mainly exported to the US market, accounting for 45.38% of the proportion and rising 34.6% compared to the same period last year.
In Q1/2019, the woodchip production was estimated at nearly one third of the whole 2018, and increased by 59.6% over the same period last year. Woodchip is one of Vietnam's most important exports, in Q1/2019, the exports reached 371.6 million USD.
Vietnam's wood industry has many advantages compared to the wood industry in the region. With FTAs taking effect from 2019, the wood industry will enter a new period with many export growth prospects. With the export prospects of the wood processing industry, the industry associations and business associations agreed to set the total production value of the wood processing industry in 2019 to US $ 10.2 billion.
ABBREVIATION
EXECUTIVE SUMMARY
1. BUSINESS ENVIRONMENT
1.1 Macroeconomic situation
1.2 Legal framework
1.3 Trade agreements
2. MARKET OVERVIEW
2.1 Definition and classification
2.2 Value chain
2.3 World wood market
2.3.1 Raw materials
2.3.2 Production
2.3.3 Trade
2.3.4 Wood market in some big countries
2.3.5 Some famous wooden furniture brand in the world
2.4 Vietnam wood market
2.4.1 History of formation and development
2.4.2 Processing technology
2.4.3 Value chain
2.4.4 Raw materials
2.4.5 Production
2.4.6 Consumption
2.4.7 Import export
2.4.8 Competitive analysis
2.4.9 Inventory
3. RISK ANALYSIS
4. OUTLOOK AND FORECAST
4.1 Industry development planning
4.2 Outlook
4.3 Forecast
5. ENTERPRISE ANALYSIS
5.1 Enterprise introduction
5.2 Financial analysis
6. APPENDIX OF FINANCIAL STATEMENTS
EXECUTIVE SUMMARY
1. BUSINESS ENVIRONMENT
1.1 Macroeconomic situation
1.2 Legal framework
1.3 Trade agreements
2. MARKET OVERVIEW
2.1 Definition and classification
2.2 Value chain
2.3 World wood market
2.3.1 Raw materials
2.3.2 Production
2.3.3 Trade
2.3.4 Wood market in some big countries
2.3.5 Some famous wooden furniture brand in the world
2.4 Vietnam wood market
2.4.1 History of formation and development
2.4.2 Processing technology
2.4.3 Value chain
2.4.4 Raw materials
2.4.5 Production
2.4.6 Consumption
2.4.7 Import export
2.4.8 Competitive analysis
2.4.9 Inventory
3. RISK ANALYSIS
4. OUTLOOK AND FORECAST
4.1 Industry development planning
4.2 Outlook
4.3 Forecast
5. ENTERPRISE ANALYSIS
5.1 Enterprise introduction
5.2 Financial analysis
6. APPENDIX OF FINANCIAL STATEMENTS
LIST OF TABLES
Table 1: FDI enterprises by categories and countries of wood industry, 2018e
Table 2: Value of Vietnamese wood products exported to China 2015 - 2018
Table 3: Main markets of wooden furniture providing for EU in the first 10 months of 2018
Table 4: Woodchip export volume to main market, (million ton)
Table 5: Wood and wood products of Viet Nam exported in Q1/2019 – Q1/2018
Table 6: Top 10 largest wooden furniture exporters, 2017
Table 7: Main wood and wooden products Vietnam import, 2018
Table 8: Top 10 wood enterprises having highest revenue, 2018
Table 1: FDI enterprises by categories and countries of wood industry, 2018e
Table 2: Value of Vietnamese wood products exported to China 2015 - 2018
Table 3: Main markets of wooden furniture providing for EU in the first 10 months of 2018
Table 4: Woodchip export volume to main market, (million ton)
Table 5: Wood and wood products of Viet Nam exported in Q1/2019 – Q1/2018
Table 6: Top 10 largest wooden furniture exporters, 2017
Table 7: Main wood and wooden products Vietnam import, 2018
Table 8: Top 10 wood enterprises having highest revenue, 2018
LIST OF FIGURES
Figure 1: GDP growth rate by quarter, 2016 - 2019
Figure 2: Production value of agriculture, forestry and fishery in Q1 (current price), 2016 - 2019
Figure 3: GDP structure at current prices, Q1/2019
Figure 4: VND/USD exchange rate, 1/2013 – Q1/2019
Figure 5: Average interest rate, 1/2013 – Q1/2019
Figure 6: Vietnam import-export turnover, 2011 - 2018
Figure 7: Most exported commodities in Q1/2019
Figure 8: Monthly CPI fluctuation , 1/2015 – 3/2019
Figure 9: World crude oil prices, 1/2011 - 3/2019
Figure 10: Production and consumption of logs in the world, 2010-2030f
Figure 11: Production structure of industrial logs by region, 2017-2030f
Figure 12: Global logs trade, 2010 - 2017
Figure 13: The most used types of wood in South East Asia market, 2017
Figure 14: Top 10 largest industrial logs producing countries in the world, 2017
Figure 15: Top 10 largest industrial logs consuming countries in the world, 2017
Figure 16: Top 10 largest logs importing countries, 2017
Figure 17: Top 10 largest logs exporting countries, 2017
Figure 18: Lumber production structure by region, 2017e và 2030f
Figure 19: Global production and consumption of lumber, 2010-2030f
Figure 20: Global lumber trade, 2010-2017e
Figure 21: Top largest lumber exporting countries, 2017
Figure 22: Top largest lumber importing countries, 2017
Figure 23: Industrial wood production and consumption, 2011-2030f
Figure 24: Industrial wood production structure by region, 2017
Figure 25: Industrial wood production structure by product, 2017
Figure 26: Price index for producing wooden furniture for children, 2004-2018
Figure 27: Price index for office chair production, 1998-2018
Figure 28: Price index for office furniture production, 1965-2018
Figure 29: Price index for dining and kitchen furniture production, 1998-2018
Figure 30: Global trade value of wood and wood products, 2010 - 2018e
Figure 31: Top the world's largest wood and wood products (HS44) exporting countries by volume, 2018e
Figure 32: Top the world's largest wood and wood products (HS44) importing countries by volume, 2018e
Figure 33: Global wood chips trade, 2010 - 2018e
Figure 34: Structure of wood chips import in the world, 2018
Figure 35: Structure of world wood chip exports by country, 2018
Figure 36: Exported average price of wood chips by some large countries, 2010 – 2017e
Figure 37: Top largest industrial wood importing countries in the world, 2017
Figure 38: Global industrial wood trade, 2010 - 2018e
Figure 39: Top largest industrial wood exporting countries in the world, 2017
Figure 40: Top largest veneer wood importing countries in the world, 2017
Figure 41: Top largest veneer wood exporting countries in the world, 2017
Figure 42: Global furniture trade, 2005 - 2018e
Figure 43: Top 10 largest wooden furniture exporters in the world, 2017e
Figure 44: Top 10 largest wooden furniture importers in the world, 2017e
Figure 45: Wood production in China, 2010 - 2017
Figure 46: Trade of wood and wooden products in China, 2010 - 2016
Figure 47: Market structure providing tropical sawn timber fro China, 2017
Figure 48: Import market structure of wooden furniture in China, 2017
Figure 49: Export market structure of wooden furniture in China, 2017
Figure 50: Export and import of wood and wood products in the USA, 2010 - 2018e
Figure 51: Exports of wood and wood products in the US by region, 2017
Figure 52: Import value of wooden furniture in the US, 2013 – 11M/2018
Figure 53: Import market structure of wooden furniture in the US, 11M/2018
Figure 54: Area of concentrated forestation in Vietnam, 2010 - Q1/2019
Figure 55: The volume of timber harvested from planted forest, 2010 - Q1/2019
Figure 56: Rubber plantation area in Vietnam, 2010 - 2017e
Figure 57: Import of wood material, 2013 - 2018
Figure 58: Import value of logs and lumber into Vietnam, 2013 - 2018
Figure 59: Top logs mainly imported into Viet Nam, 2018
Figure 60: Top countries providing wood for Viet Nam by value, 2018
Figure 61: Imports of logs and lumbers into Vietnam by output, 2013-2018
Figure 62: Top largest logs suppliers of Vietnam by output, 2018
Figure 63: Demand for material wood in Vietnam, 2012 – 2025f
Figure 64: Structure of using material wood, 2018e
Figure 65: Number of enterprises and employees in wood industry, 2010 - 2017
Figure 66: Allocation of timber enterprises by region, 2017e
Figure 67: Scale of wood enterprises by investment capital and by labor, 2016
Figure 68: Total revenue and profit of the wood industry, 2010 - 2017e
Figure 69: Investment capital and fixed assets of the industry, 2010 - 2017e
Figure 70: Production value of wood processing industry, 2008 - 2018e
Figure 71: Wood chip production output in Vietnam, 2010 – Q1/2019
Figure 72: Artificial board production, 2010 – Q1/2019
Figure 73: Structure of wooden furniture production by product type, Q1/2019e
Figure 74: Productions of wooden product, 2010 – Q1/2019e
Figure 75: Value of furniture in the domestic market, 2006-2018e
Figure 76: Top wood enterprises having highest revenue in 2018
Figure 77: Consumption value of wood chips, 2010 – Q1/2019e
Figure 78: Consumption value of artificial boards, 2010 – Q1/2019e
Figure 79: Consumption value of wooden furniture, 2010 – Q1/2019e
Figure 80: Structure of export wood products of Vietnam, Q1/2019
Figure 81: Export turnover of some wood products, Q1/2019
Figure 82: Export turnover of wood and wood products of Vietnam, Q1/2019
Figure 83: Structure of export markets for wood and wood products Q1/2019
Figure 84: Structure of contribution to export of wood and wood products of Vietnam, 2013 - Q1/2019
Figure 85: Export of wood and wood products by month, 2016 - Q1/2019
Figure 86: Wood exports to the US market, 2011 – 9M/2018
Figure 87: Export turnover of main products to the US market, 2015 – 6M/2018
Figure 88: Wooden furniture imported value of America, M1/2019
Figure 89: Export turnover of wood and wood products to China, 2011 - Q1/2019
Figure 90: Export turnover of wood and wood products to Europe, 2009 – Q1/2019e
Figure 91: Export share of wood and wood products to Europe by country, Q1/2019e
Figure 92: Top exporters of wood and wood products to Europe, 2018e
Figure 93: Woodchip exports of Viet Nam, 2010 – Q1/2019e
Figure 94: Wood chip exports by volume, 2018
Figure 95: Top largest wood chip exporting enterprises, 2017
Figure 96: Export value of all kinds of boards in Vietnam, 2011 – 2018
Figure 97: Export of boards in Vietnam, 2013 – Q1/2019e
Figure 98: Export volume and value of wooden products, 2013 – Q1/2019e
Figure 99: Export value of wooden furniture, 2010 – Q1/2019e
Figure 100: Import of wood and wood products of Vietnam, 2010 – Q1/2019
Figure 101: Import market structure of wood and wood products Q1/2019
Figure 102: Inventory index of beds, wardrobes, tables and chairs, 2012 - Q1/2019
Figure 103: Global furniture consumption, 2017 – 2018
Figure 104: Forecast of export turnover of wood and wood products of Vietnam to 2020
Figure 105: Profit indicator, 2017 - 2018
Figure 106: Selling expense/Net revenue ratio, 2016 - 2017
Figure 107: General and administrative expenses/Net revenue ratio, 2016 – 2017
Figure 108: Days’ sales in inventory, 2017-2018
Figure 109: Days of sales outstanding, 2017-2018
Figure 110: Self- financing ratio, 2017 - 2018
Figure 111: Solvency, 2017 - 2018
Figure 112: Profit margin, 2017 - 2018
Figure 1: GDP growth rate by quarter, 2016 - 2019
Figure 2: Production value of agriculture, forestry and fishery in Q1 (current price), 2016 - 2019
Figure 3: GDP structure at current prices, Q1/2019
Figure 4: VND/USD exchange rate, 1/2013 – Q1/2019
Figure 5: Average interest rate, 1/2013 – Q1/2019
Figure 6: Vietnam import-export turnover, 2011 - 2018
Figure 7: Most exported commodities in Q1/2019
Figure 8: Monthly CPI fluctuation , 1/2015 – 3/2019
Figure 9: World crude oil prices, 1/2011 - 3/2019
Figure 10: Production and consumption of logs in the world, 2010-2030f
Figure 11: Production structure of industrial logs by region, 2017-2030f
Figure 12: Global logs trade, 2010 - 2017
Figure 13: The most used types of wood in South East Asia market, 2017
Figure 14: Top 10 largest industrial logs producing countries in the world, 2017
Figure 15: Top 10 largest industrial logs consuming countries in the world, 2017
Figure 16: Top 10 largest logs importing countries, 2017
Figure 17: Top 10 largest logs exporting countries, 2017
Figure 18: Lumber production structure by region, 2017e và 2030f
Figure 19: Global production and consumption of lumber, 2010-2030f
Figure 20: Global lumber trade, 2010-2017e
Figure 21: Top largest lumber exporting countries, 2017
Figure 22: Top largest lumber importing countries, 2017
Figure 23: Industrial wood production and consumption, 2011-2030f
Figure 24: Industrial wood production structure by region, 2017
Figure 25: Industrial wood production structure by product, 2017
Figure 26: Price index for producing wooden furniture for children, 2004-2018
Figure 27: Price index for office chair production, 1998-2018
Figure 28: Price index for office furniture production, 1965-2018
Figure 29: Price index for dining and kitchen furniture production, 1998-2018
Figure 30: Global trade value of wood and wood products, 2010 - 2018e
Figure 31: Top the world's largest wood and wood products (HS44) exporting countries by volume, 2018e
Figure 32: Top the world's largest wood and wood products (HS44) importing countries by volume, 2018e
Figure 33: Global wood chips trade, 2010 - 2018e
Figure 34: Structure of wood chips import in the world, 2018
Figure 35: Structure of world wood chip exports by country, 2018
Figure 36: Exported average price of wood chips by some large countries, 2010 – 2017e
Figure 37: Top largest industrial wood importing countries in the world, 2017
Figure 38: Global industrial wood trade, 2010 - 2018e
Figure 39: Top largest industrial wood exporting countries in the world, 2017
Figure 40: Top largest veneer wood importing countries in the world, 2017
Figure 41: Top largest veneer wood exporting countries in the world, 2017
Figure 42: Global furniture trade, 2005 - 2018e
Figure 43: Top 10 largest wooden furniture exporters in the world, 2017e
Figure 44: Top 10 largest wooden furniture importers in the world, 2017e
Figure 45: Wood production in China, 2010 - 2017
Figure 46: Trade of wood and wooden products in China, 2010 - 2016
Figure 47: Market structure providing tropical sawn timber fro China, 2017
Figure 48: Import market structure of wooden furniture in China, 2017
Figure 49: Export market structure of wooden furniture in China, 2017
Figure 50: Export and import of wood and wood products in the USA, 2010 - 2018e
Figure 51: Exports of wood and wood products in the US by region, 2017
Figure 52: Import value of wooden furniture in the US, 2013 – 11M/2018
Figure 53: Import market structure of wooden furniture in the US, 11M/2018
Figure 54: Area of concentrated forestation in Vietnam, 2010 - Q1/2019
Figure 55: The volume of timber harvested from planted forest, 2010 - Q1/2019
Figure 56: Rubber plantation area in Vietnam, 2010 - 2017e
Figure 57: Import of wood material, 2013 - 2018
Figure 58: Import value of logs and lumber into Vietnam, 2013 - 2018
Figure 59: Top logs mainly imported into Viet Nam, 2018
Figure 60: Top countries providing wood for Viet Nam by value, 2018
Figure 61: Imports of logs and lumbers into Vietnam by output, 2013-2018
Figure 62: Top largest logs suppliers of Vietnam by output, 2018
Figure 63: Demand for material wood in Vietnam, 2012 – 2025f
Figure 64: Structure of using material wood, 2018e
Figure 65: Number of enterprises and employees in wood industry, 2010 - 2017
Figure 66: Allocation of timber enterprises by region, 2017e
Figure 67: Scale of wood enterprises by investment capital and by labor, 2016
Figure 68: Total revenue and profit of the wood industry, 2010 - 2017e
Figure 69: Investment capital and fixed assets of the industry, 2010 - 2017e
Figure 70: Production value of wood processing industry, 2008 - 2018e
Figure 71: Wood chip production output in Vietnam, 2010 – Q1/2019
Figure 72: Artificial board production, 2010 – Q1/2019
Figure 73: Structure of wooden furniture production by product type, Q1/2019e
Figure 74: Productions of wooden product, 2010 – Q1/2019e
Figure 75: Value of furniture in the domestic market, 2006-2018e
Figure 76: Top wood enterprises having highest revenue in 2018
Figure 77: Consumption value of wood chips, 2010 – Q1/2019e
Figure 78: Consumption value of artificial boards, 2010 – Q1/2019e
Figure 79: Consumption value of wooden furniture, 2010 – Q1/2019e
Figure 80: Structure of export wood products of Vietnam, Q1/2019
Figure 81: Export turnover of some wood products, Q1/2019
Figure 82: Export turnover of wood and wood products of Vietnam, Q1/2019
Figure 83: Structure of export markets for wood and wood products Q1/2019
Figure 84: Structure of contribution to export of wood and wood products of Vietnam, 2013 - Q1/2019
Figure 85: Export of wood and wood products by month, 2016 - Q1/2019
Figure 86: Wood exports to the US market, 2011 – 9M/2018
Figure 87: Export turnover of main products to the US market, 2015 – 6M/2018
Figure 88: Wooden furniture imported value of America, M1/2019
Figure 89: Export turnover of wood and wood products to China, 2011 - Q1/2019
Figure 90: Export turnover of wood and wood products to Europe, 2009 – Q1/2019e
Figure 91: Export share of wood and wood products to Europe by country, Q1/2019e
Figure 92: Top exporters of wood and wood products to Europe, 2018e
Figure 93: Woodchip exports of Viet Nam, 2010 – Q1/2019e
Figure 94: Wood chip exports by volume, 2018
Figure 95: Top largest wood chip exporting enterprises, 2017
Figure 96: Export value of all kinds of boards in Vietnam, 2011 – 2018
Figure 97: Export of boards in Vietnam, 2013 – Q1/2019e
Figure 98: Export volume and value of wooden products, 2013 – Q1/2019e
Figure 99: Export value of wooden furniture, 2010 – Q1/2019e
Figure 100: Import of wood and wood products of Vietnam, 2010 – Q1/2019
Figure 101: Import market structure of wood and wood products Q1/2019
Figure 102: Inventory index of beds, wardrobes, tables and chairs, 2012 - Q1/2019
Figure 103: Global furniture consumption, 2017 – 2018
Figure 104: Forecast of export turnover of wood and wood products of Vietnam to 2020
Figure 105: Profit indicator, 2017 - 2018
Figure 106: Selling expense/Net revenue ratio, 2016 - 2017
Figure 107: General and administrative expenses/Net revenue ratio, 2016 – 2017
Figure 108: Days’ sales in inventory, 2017-2018
Figure 109: Days of sales outstanding, 2017-2018
Figure 110: Self- financing ratio, 2017 - 2018
Figure 111: Solvency, 2017 - 2018
Figure 112: Profit margin, 2017 - 2018
