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In the first three quarters of this year, Vietnam's export of wood products in international trade increased by 10.2%, of which the export of wood products in international trade grew the most, reaching 8.57 billion pieces. However, from the fourth quarter of this year, Vietnam's timber processing industry was affected by the slowdown in global demand, and orders decreased. Although the price of other timber has begun to decline, FSC certified logs imported from the EU market are still expensive. Many manufacturers believe that FSC certified logs may reduce the revenue of Vietnam's timber processing industry in the last quarter of this year.

The problem of rising costs has been affecting the development of the wood industry in various countries this year. This year, affected by multiple factors in the market, the price of wood imported into Vietnam in international trade has risen significantly, including the price of wood used to produce sawdust and granules, which has risen from $40 per cubic meter to $70-80 per cubic meter. In the face of high timber prices, the Vietnamese government also advocates the development of plantations, but everyone knows that imported timber in international trade is still irreplaceable in Vietnam.

Vietnam's timber processing industry has been developing steadily in recent years. The Vietnam Forestry Bureau has set the goal that the export of timber and forest products should reach US $18 billion to US $20 billion by 2025 and US $2.3 billion to US $25 billion by 2030. However, in Vietnam's international trade export market, many countries require that the raw materials of wood products be FSC certified. Whether there are enough FSC certified logs will directly affect the development of Vietnam's wood products export industry. If the profits of wood manufacturers continue to decline, producers are unlikely to invest in the field of FSC certified wood materials.

Vietnam needs to import wood from nearly 80 countries every year, so changes in policies of other countries may affect the development of Vietnam's wood processing industry, especially in recent years. In order to standardize the wood processing industry, Vietnam has started the "evaluation and classification of wood processing and export enterprises" since May this year. The total number of enterprises that must be classified is up to 1200, but as of October 10, only 141 wood processing and export enterprises were classified as Category I.

In the short term, the situation of high global inflation and slowing demand will continue, and Vietnam's wood processing industry may not recover until next year.