Vietnam earned US$ 1.1 billion from exporting plywood in the first 11 months of 2022, securing the fifth
Vietnam's hardwood plywood export revenue to the US soared from US$33.4 million in 2016 to US$322.2 million in 2019. (Photo: VNA)
NDO - The Trade Remedies Authority (TRA) under the Ministry of Industry and Trade has issued a warning related to 10 Vietnamese exports at risk of facing trade defence measures.
They include hardwood plywood, upholstered wooden frame chairs, wooden cabinets and vanities, electric bikes and ceramic tiles.
The list was compiled based on the export development of goods which importing countries have imposed safeguard measures on for a third country but not as of yet on Vietnam.
Among the goods on the watchlist, hardwood plywood faces the highest level of risk as its export revenue to the US soared from US$33.4 million in 2016 to US$322.2 million in 2019.
For ceramic tiles, Vietnam’s export revenue also increased rapidly from US$269,000 in 2018 to US$2.8 million in 2019. During the period from June 2020 to May 2021, revenue was US$20.6 million although Vietnam accounted for only 1.1% of US imports.
Electric bikes are also facing risks from both the US and the EU as Vietnam’s exports to the EU rose from EUR74 million in 2018 to EUR87.5 million 2019 and fell slightly to EUR83.6 million in 2020.
During the 12 months to May 2021, Vietnam’s electric bike exports to the US reached US$30.4 million, up 30.4% year on year.
Other goods on the list include wood mouldings and millwork products exported to the US.
According to the TRA, Vietnamese exports have been subject to over 200 trade defence lawsuits, with affected revenue estimated at more than US$12 billion.