Dong Nai runs US$860 mln surplus in wood trade
Wood export in the southern province of Dong Nai totaled US$1.2 billion in 2015, up 17% from 2014, according to the provincial Statistics Office.
The figure also marked a trade surplus of US$860 million, considering that the province imported US$337 million worth of wood materials for processing.
The locality’s major importers are the US, Europe, Japan, and the Republic of Korea.
According to the provincial Department of Industry and Trade, the province is home to over 618 firms making wooden furniture and handicrafts, accounting for 27% of the country’s wood shipments.
Phan Van Binh, Chairman of the provincial Wood and Handicraft Industry Association, said the association has helped with updating market information, developing a value supply chain and building a 75ha Thien Tan industrial park, where wood, handicraft and support industries set up plants on 50 hectares.
The department forecast that 2016 will be a banner year for wood exporters thanks to further tariff cuts brought about by a series of signed free trade agreements.
The province’s export turnover was estimated to reach over US$14 billion in 2015.
Over the past five years, Dong Nai’s economy has grown by an annual average of 12%. The locality hosted more than 1,200 foreign-invested projects from 42 countries and territories and over 19,500 domestic firms.
The locality’s major importers are the US, Europe, Japan, and the Republic of Korea.
According to the provincial Department of Industry and Trade, the province is home to over 618 firms making wooden furniture and handicrafts, accounting for 27% of the country’s wood shipments.
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Phan Van Binh, Chairman of the provincial Wood and Handicraft Industry Association, said the association has helped with updating market information, developing a value supply chain and building a 75ha Thien Tan industrial park, where wood, handicraft and support industries set up plants on 50 hectares.
The department forecast that 2016 will be a banner year for wood exporters thanks to further tariff cuts brought about by a series of signed free trade agreements.
The province’s export turnover was estimated to reach over US$14 billion in 2015.
Over the past five years, Dong Nai’s economy has grown by an annual average of 12%. The locality hosted more than 1,200 foreign-invested projects from 42 countries and territories and over 19,500 domestic firms.