Vietnam’s wood export expands nearly 16% in 9 months

Vietnam raked in more than US6.7 billion from exporting its main forestry products in the first nine months of 2018, up 15.91% year-on-year, accounting for 23.17% of the total export turnover of the agricultural sector. 

At a wood processing factory 
According to the Vietnam Administration of Forestry, the products ran a trade surplus of US$5.08 billion in the period, with the surplus for wood and wood products US$4.74 billion.

The US is the biggest importer of Vietnam’s timber goods, with import turnover of US$2.7 billion in the first nine months of this year, up 15.8% compared to the same period of 2017. 

It was followed by Japan with US$827 million (up 8.1%) and China with US$812.6 million (up 3.8%). 

The Republic of Korea, Australia, Canada and France were also large importers of Vietnamese timber and wood products, with respective import value of US$699.2 million, US$137 million, US$115 million and US$90 million. 

Vietnam aims to earn US$9 billion from exporting forestry products in 2018. 

The export turnover of wood and timber products is expected to increase in the rest months of this year in line with consumption habits. 

In addition, Vietnam and the European Union (EU) are completing procedures to approve the signing of the voluntary partnership agreement on Forest Law Enforcement, Governance and Trade.

By mid-July 2018, the European Commission approved the content of the agreement and agreed to submit it to the EU Council of Ministers for signing.

The Vietnamese Ministry of Agriculture and Rural Development has submitted the document to the Government for approval.

Nguyen Ton Quyen, General Secretary of the Association of Vietnam Timber and Forest Product, said the Vietnamese forestry sector is also facing many difficulties, including a shortage of raw materials for production and fierce competition with Chinese firms.

Related

Wood exports hoped to reach US$9 billion ahead of schedule
Wood exports hoped to reach US$9 billion ahead of schedule

With large shipments in the first eight months, Vietnam’s  forestry sector expects to fulfill this year’s export target of US$9 billion a month ahead of schedule.

Wood exports hoped to reach US$9 billion ahead of schedule

Wood exports hoped to reach US$9 billion ahead of schedule

With large shipments in the first eight months, Vietnam’s  forestry sector expects to fulfill this year’s export target of US$9 billion a month ahead of schedule.

Vietnam sets target of US$20 billion wood exports by 2025
Vietnam sets target of US$20 billion wood exports by 2025

VOV.VN - The timber and forestry products processing industry set a target of earning US$9 billion from wood exports this year and increasing the value to US$25 billion by 2025.

Vietnam sets target of US$20 billion wood exports by 2025

Vietnam sets target of US$20 billion wood exports by 2025

VOV.VN - The timber and forestry products processing industry set a target of earning US$9 billion from wood exports this year and increasing the value to US$25 billion by 2025.

Wood exports hit nearly US$5 billion in 7 months
Wood exports hit nearly US$5 billion in 7 months

VOV.VN - Exports of wood and timber products are estimated at US$642 million in July, bringing the total export value for the first seven months of the year to US$4.8 billion, a year-on-year rise of 11.6%, according to the Agro Processing and Market Development Authority (AgroTrade).

Wood exports hit nearly US$5 billion in 7 months

Wood exports hit nearly US$5 billion in 7 months

VOV.VN - Exports of wood and timber products are estimated at US$642 million in July, bringing the total export value for the first seven months of the year to US$4.8 billion, a year-on-year rise of 11.6%, according to the Agro Processing and Market Development Authority (AgroTrade).