Vietnam’s wood exports likely to reach 11 bln USD in 2019
|TIN LIÊN QUAN
|EVFTA to sustainably boost Vietnam’s wood exports to EU
|Wood exports surge 15.6 percent in Q1
Deputy General Director of the VAF Cao Chi Cong said foreign investment and cooperation have significantly contributed to the forestry sector’s growth in recent years.
|Illustrative photo. (Photo: baodongnai.com.vn)
Vietnamese wood and forestry products are exported to over 120 countries and territories worldwide.
Vietnam ranks first in ASEAN, second in Asia and fifth in the world for wood exports. It is one of the key exports for the country’s agriculture and rural development sector.
Cong said the forestry industry is Vietnam’s sixth most important export sector with annual average growth of over 13 percent from 2010-2018.
According to Dien Quang Hiep, Chairman of the Binh Duong Furniture Association (BIFA), Vietnam’s forestry industry has enjoyed tax reduction from the ASEAN Free Trade Agreement (AFTA), creating conditions for wood exporters to reach out to the world market.
However, challenges related to the high price of materials, strict quality requirements, design and origin of products require Vietnamese enterprises to build specific plans and development strategies, Hiep said.
They should focus on maintaining export growth in big markets such as the US, Japan, China, the EU and the Republic of Korea; and expand market share in new markets such as South America, Russia, Australia, Canada and India, he added.
Vietnam’s forestry sector aims to lift its export turnover of wooden products to 12-13 billion USD in 2020, and between 18-20 billion USD by 2025.
According to the Ministry of Agriculture and Rural Development, the export value of wood and forestry products in the first eight months of 2019 reached 7.08 billion USD, up 18.6 percent year on year.
The US is the largest market for Vietnam's timber industry, accounting for 45 percent of the industry's total export value. Export growth to the market hits 15-17 percent each year.
|Wood exports expected to hit 8.85 billion USD this year
Vietnam’s export of wood and wood-based products is projected to reach 8.85 billion USD in 2018, up over 1 billion USD from the 2017 record ...
|Vietnam's forestry, wood exports to top 9 billion USD
The country’s exports of forestry products are expected to top 9 billion USD this year, with wood and wooden products accounting for 8.5-8.7 billion USD, ...
|Wood exports likely to reach 7.6 billion USD, surpassing yearly target
It is estimated that Vietnam’s wood exports will reach 7.6 billion USD by the end of 2017, surpassing the yearly target of 7.5 billion USD ...