Wood industry’s export target of 14.5 billion USD reachable
Wood enterprises are getting back to normal after a long suspension of operations due to the COVID-19 pandemic, and are confident to earn a total of 14.5 billion USD from exports this year.
Hanoi (VNA) – Wood enterprises are getting back to normal after along suspension of operations due to the COVID-19 pandemic, and are confidentto earn a total of 14.5 billion USD from exports this year.
According to the Vietnam Timber and Forest ProductAssociation (VIFOREST), the export turnover of Vietnam’s wooden and forestproducts hit 10.76 billion USD in the first nine months of 2021, up 30.5percent year-on-year.
The export turnover of wood and wooded products reached 11.5billion USD as of mid-October, while that of non-timber forest products was 0.7billion USD.
In a recent survey by Forest Trend, 83 percent of surveyed enterprises saidthey have had recovery plans in which they will change their businessstrategies, ensure safe production, and increase the processing scale.
Experts said that materials and labour are two of the mostimportant factors affecting production and business results of companies at thistime.
Together with advantages of free trade agreements (FTAs) andfirms’ activeness in increasing their operation capacity by 20-30 percent inthe remaining months of this year, the wood industry can achieve its goal of14.5 billion USD from exports this year, up 15 percent from 2020./.
The export of Vietnam’s wood industry to France and Europe at large have ample room for growth, according to the Agency of Foreign Trade at the Ministry of Industry and Trade.
Suspension of production at local wood processing enterprises due to the COVID-19 pandemic is having effects on exports, according to the Vietnam Timber and Forest Product Association (VIFOREST).
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Despite a sharp fall in exports in August and September due to impacts of COVID-19, the wood sector still has chances to complete its export target for the whole year provided that it can quickly resume production, according to experts.
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Illustrative image (Photo: VNA) 
