VN forestry export expected to hit record $11.3 billion in 2019
The forestry sector expects to earn an estimated 11.3 billion USD from exports this year, a year-on-year rise of 20 percent, according to Deputy Minister of Agriculture and Rural Development Ha Cong Tuan.
The forestry sector expects to earn an estimated 11.3 billion USD from exports this year, a year-on-year rise of 20 percent.
This would be the highest growth rate in the sector’s history, he said, adding that the sector is also expected to enjoy a trade surplus of approximately 8 billion USD, thus contributing significantly to the agriculture sector’s overall growth.
Vietnam’s forest products have been exported to over 140 countries and territories worldwide, he said.
The country’s main export markets include the US, Japan, China, the European Union, and the Republic of Korea, which together account for more than 80 percent of the nation’s total export value of forest products.
There are over 4,500 firms operating in wood and forest product processing, of which over 1,800 firms are directly involved in export activities./.VNA
Foreign direct investment in the wood processing industry has increased rapidly, especially since 2018, the Viet Nam Timber and Forest Product Association has said.
The new regulation on certificate of origin (C/O) makes it more for Vietnam to obtain $11 billion in woodwork exports this year as planned.