VNFOREST said forestry exports enjoyed the highest growth rate of Vietnam’s export commodity group with over US$1 billion in the reviewed period.
The first quarter of 2019 is also the quarter that has seen the highest growth over the past five years. The trade surplus of forestry products is estimated to have reached US$1.82 billion out of a total export turnover of US$2.4 billion, up 19 per cent in comparison with last year’s corresponding period.
The United States, Japan, the EU, China, and the Republic of Korea remain traditional export markets for forestry products and these territories account for 87 per cent of total export turnover of forestry products.
Prime Minister Nguyen Xuan Phuc has recently issued a decree regarding the key tasks and solutions for rapid and sustainable development of the wood processing industry to serve exports.
According to the decree, the nation’s wood and forestry industry aims to gross US$11 billion in exports this year, US$12-13 billion in 2020, and US$10-20 billion in 2025.