South Korea has become a major export market for Vietnamese timber products

     Vietnam's "Saigon Economic Online" reported on June 21 that in the first five months of 2021, Vietnam's exports of wood products to the Korean market continued to grow. Total exports to this market exceeded 369 million U.S. dollars, a year-on-year increase of approximately 7%. South Korea is still Vietnam's fourth largest export market for wood products.

　　According to the statistics of the General Administration of Customs of Vietnam, Vietnam’s exports of timber and wood products to the Korean market reached US$75.8 million in May this year, a year-on-year decrease of 2.3%. However, in the first five months of this year, exports of timber and wood products to the market increased by 7% year-on-year.

　　 Wooden interior products exported to the Korean market accounted for 29.7% of the total exports of timber and wood products. In the first five months of this year, most of the wooden furniture exported to South Korea increased in export value.

　　 Nguyen Zhengfang, vice chairman of the Ho Chi Minh Handicrafts and Wood Processing Industry Association, explained this growth phenomenon, saying that due to the impact of the new crown epidemic, Korean consumers stay at home more and have more time to repair and renovate their houses.

　　 In addition, consumer demand driven by more and more single households has also had a positive impact on the demand for interior goods in Korea. The single population accounted for more than 30% of the total number of households in 2019, almost twice the figure in 2000.