Vietnam is the largest exporter of Agarwood in the world, and has a long history of using the wood in traditional medicine and religious practices. The country's agarwood industry is a major contributor to its economy, with exports of the wood generating billions of dollars in revenue each year. Here's a closer look at the sales and export statistics for agarwood in Vietnam.
According to the latest available data from the United Nations Comtrade database, Vietnam exported $434.3 million worth of agarwood in 2019. This represents a significant increase from previous years, with the country exporting only $162.2 million worth of agarwood in 2015.
The largest importers of Vietnamese agarwood in 2019 were China, followed by Taiwan, Japan, Hong Kong, and the United Arab Emirates. These countries accounted for the majority of Vietnam's agarwood exports, with China alone importing over 80% of the total.
In Vietnam, agarwood is primarily used in traditional medicine, as well as in the production of high-end perfumes and other luxury products. The wood is believed to have a range of health benefits, including the ability to relieve stress, improve focus, and promote relaxation. Agarwood is also used in religious practices, with the wood being burned as incense during ceremonies and rituals.
Vietnam's agarwood industry has been the subject of criticism in recent years due to concerns about the sustainability of harvesting and trade. Overharvesting and illegal logging have led to a decline in the availability of agarwood, and there are concerns that the industry is not being managed in a sustainable way. The Vietnamese government has implemented regulations to control the harvesting and trade of agarwood, and is working to promote sustainable harvesting practices.
Despite these concerns, the demand for Vietnamese agarwood continues to grow, particularly in China and other Asian markets. The Vietnamese government has been actively promoting the industry, and has set a target of increasing agarwood exports to $1 billion by 2025. With its long history of using the wood, and its position as the world's largest exporter of agarwood, Vietnam is likely to remain a major player in the agarwood industry for the foreseeable future
Advantages of Vietnamese agarwood
Vietnamese agarwood is highly regarded for its quality and is considered one of the best in the world. Here are some advantages of Vietnamese agarwood:
Rich aroma: Vietnamese agarwood has a complex and rich aroma that is highly valued in the perfume and incense industries. It has a unique scent profile that includes sweet, floral, musky, woody, and spicy notes.
High resin content: Vietnamese agarwood has a high resin content, which makes it more valuable than other types of wood. The resin is what gives the wood its fragrance and is used in the production of high-end perfumes and incense.
Rare and precious: Vietnamese agarwood is rare and precious, and the demand for it far outweighs the supply. This makes it a highly sought-after commodity and can command very high prices.
Traditional medicine: Agarwood is used in traditional medicine in many Asian countries, including Vietnam. It is believed to have a wide range of health benefits, including improving digestion, reducing anxiety, and promoting relaxation.
Sustainable production: The production of Vietnamese agarwood is sustainable, as it is sourced from the Aquilaria tree, which is not endangered. This means that the production of agarwood can continue without harming the environment or depleting natural resources.
How do Vietnamese people use Agarwood?
Agarwood has been used by Vietnamese people for centuries for its fragrance and medicinal properties. Here are some common ways that Vietnamese people use agarwood:
Incense: Agarwood is often used to make incense sticks or cones, which are burned during religious ceremonies and other special occasions. The fragrant smoke is believed to purify the air and create a peaceful atmosphere.
Perfume: Agarwood is a popular ingredient in high-end perfumes and colognes due to its rich and complex aroma.
Traditional medicine: In Vietnamese traditional medicine, agarwood is believed to have many health benefits. It is often used to treat digestive issues, reduce anxiety, and promote relaxation.
Woodcraft: Agarwood is sometimes used to make decorative carvings, furniture, and other woodcrafts due to its unique grain patterns and color.
Tea: Agarwood tea is made by steeping small pieces of agarwood in hot water. It is believed to have a range of health benefits, including reducing inflammation and improving digestion.
Overall, agarwood is a versatile and highly valued resource in Vietnam, and its use is deeply ingrained in the country's culture and traditions.