Vietnam’s forestry sector enjoyed a trade surplus of 5.72 billion USD in the first 10 months of 2018, according to the Vietnam Administration of Forestry (VNForest) under the Ministry of Agriculture and Rural Development.
Vietnam’s forestry sector enjoyed a trade surplus of 5.72 billion USD in the first 10 months of 2018. (Photo: VNA)
Hanoi (VNA) – Vietnam’s forestry sector enjoyed a tradesurplus of 5.72 billion USD in the first 10 months of 2018, according to theVietnam Administration of Forestry (VNForest) under the Ministry of Agricultureand Rural Development.
The country earned more than 7.61 billion USD from exports of forestryproducts between January and October, 84 percent of the yearly target. Thefigure is 16.12 percent higher from the same period last year and accounted for23.37 percent of total agro-forestry-fishery shipments.
Timber and wood products contributed 7.23 billion USD to the exports.The US, Japan, China, the Republic of Korea and the European Union remained thelargest importers of Vietnamese wood and timber products, purchasing 87 percentof total exports.
VNForest estimated Vietnam has planted 161,207 hectares of forest sofar this year, up 7.5 percent year on year and 75.1 percent of the yearly plan.
As of September 20, the country had collected 1.79 trillion VND (76.97 millionUSD) from forest environment service fees, 77.2 percent of the yearly plan andup 76 percent from the same time last year.
Wood and timber products areVietnam’s sixth export item. The country is the largest exporter of thoseproducts among ASEAN member nations, the second largest in Asia and fifth inthe world.
It expects to earned 9billion from exports of timber and wood products this year, up 1 billion USDfrom last year. –VNA
Vietnam is forecast to collect approximately 2.5 trillion VND (106.4 million USD) from payments of forest environmental services in 2018, Deputy Minister of Agriculture and Rural Development Ha Cong Tuan has said.
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The industry's performance has been powered by bold investments in modern production lines, enabling Vietnamese firms to produce complicated products which were exclusive to advanced economies.
Vietnam’s forestry sector enjoyed a trade surplus of 5.72 billion USD in the first 10 months of 2018. (Photo: VNA)
