Wood and forestry exports plunge in second quarter
The export value of the wood processing and forestry sector was 2.18 billion USD in the second quarter of 2020, dropping 11.3 percent against the first quarter and 20 percent against the same period last year.
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| Illustrative photo. (Photo: Bao Quang Ninh) |
According to the Vietnam Administration of Forestry (VAF), the revenue gained from the sector’s biggest importer – the US – reached 1.03 billion USD, down 18 percent year-on-year and 33.4 percent quarter-on-quarter.
Its exports to other key markets, namely China, Japan, and the Republic of Korea, recorded an annual rise ranging between 5 and 20 percent.
In the first half of 2020, the sector’s export earnings hit 11.75 billion USD in total, up 3.9 percent from 2019.
Vietnamese wood and forestry products have been shipped to over 120 countries and territories worldwide. The country ranks first in ASEAN, second in Asia and fifth in the world for wood exports.
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(Source: VNA)
