Forestry exports estimated to exceed 5.8 billion USD in 8 months
The export value of forestry products is projected to hit 5.85 billion USD between January and August this year, increasing 13 percent on year and accounting for 23 percent of Vietnam’s total agro-forestry-fishery export.
Hanoi (VNA) – The export value of forestryproducts is projected to hit 5.85 billion USD between January and August thisyear, increasing 13 percent on year and accounting for 23 percent of Vietnam’stotal agro-forestry-fishery export.
According to estimations of the Vietnam Administration ofForestry (VNFOREST) under the Ministry of Agriculture and Rural Development, duringthe eight-month period, the trade surplus of forestry products will amount to4.39 billion USD, of which 4.09 billion USD are contributed by the shipmentof timber and wood products.
VNFOREST forecast forestry export to rise in the remainingmonths of the year, particularly to traditional markets like the US, China, theRepublic of Korea, Japan, and the EU.
Production forests are among major sources of materials forthe export. The entire nation has to date planted 130,858 hectares ofproduction forests. Most of the provinces in the northern mountainous regionhave completed their afforestation plan for 2018, some like Thai Nguyen and BacGiang even surpassed their targets.
About 12.3 million cubic metres of wood were exploited fromplanted forests in the first eight month of 2018, meeting 66.5 percent of theyearly plan and up 4.8 percent against the same period last year.-VNA
Vietnam’s exports account just 6 percent of the global timber and wooden furniture market which is estimated at 120 billion USD, said a local official.
The forestry sector earned 4.15 billion USD from exports in the first six months of the year, accounting for 46 percent of the yearly plan and up nearly 8.4 percent year on year.
Forestry posted the highest trade surplus, at 3.23 billion USD, amongst agricultural sectors in the first half of 2018, according to the Vietnam Administration of Forestry (VNForest).
Wood processing and forestry export must become a spearhead in Vietnam’s production and exports in the next ten years, making the country become the world’s leading forestry production and export hub, said Prime Minister Nguyen Xuan Phuc.
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Illustrative photo (Source: doanhnhansaigon.vn) 
