Vietnam's sawnwood production experienced a decline, leveling at 6.0 million cubic meters from 2013 to 2018 followed by a drop to 5.2189 million cubic meters in 2019, and a gradual recovery to 5.5459 million cubic meters by 2023. The year-on-year variation saw substantial negatives in 2019 but has shown improvement with a 1.37% increase in 2023. The CAGR for the past five years indicates a gradual recovery with an average annual shrinkage of -1.56%.
Forecasts indicate a steady increase in sawnwood production, anticipating 5.8687 million cubic meters by 2028, with a forecasted 5-year CAGR of 0.9% and overall growth of 4.58%. This suggests a slow but positive trend towards recovery and growth in the industry.
Future trends to watch for include changes in global demand, impacts of technological advancements in wood processing, sustainable forestry practices, and potential policy shifts regarding environmental regulations which may impact production efficiency and capacity.
