The industrial roundwood production in Vietnam in 2023 reached 38.003 million cubic meters. Over the past decade, production experienced fluctuations with notable increases between 2013-2015 and 2017-2018. However, there was a period of stagnation from 2018 to 2022, where production remained steady at 37.335 million cubic meters. The year-on-year variation in 2023 was 1.79%, indicative of a slight recovery. The compound annual growth rate (CAGR) over the last five years stands at 0.36%, highlighting a period of low growth.
Looking ahead, the forecast for the next five years suggests an average annual growth rate of 1.29%, projecting the production to reach 41.224 million cubic meters by 2028. This represents a modest forecasted growth rate of 6.63% over the period.
Future trends to watch for include:
- Technological advancements in forestry management.
- Impact of government policies on sustainable practices.
- Market demand shifts due to global economic conditions.
- Potential environmental challenges affecting resource availability.
