Wood exports post 50.5% surge in four months
The export turnover of wood and wood products hit US$4.99 billion in the first four months of 2021, a surge of 50.5% year-on-year, according to the Ministry of Agriculture and Rural development.
In April alone, the export value of wood and wood products reached US$1.2 billion, the ministry said.
The US, China, Japan and the Republic of Korea were the biggest importers of Vietnam’s wood in the period, accounting for 87.1% of the total export value.
In the last four months, the value of exports increased in almost all markets except for Taiwan (down 0.1%) and the UK (down 0.7%).
In the reviewed period, Vietnam spent US$978.8 million on importing wood, up 33.6% compared to the same period last year, the ministry added.
Export turnover of wood and wood products is the sixth largest among Vietnamese export commodities. Wood and wood products are also the items with the largest trade surplus, contributing to improving the trade balance.
Vietnam currently has about 12,000 enterprises operating in wood production and processing, with about 500,000 employees and VND320 trillion (nearly US$14 billion) of production-business capital over VND120 trillion in value of fixed assets, and nearly VND360 trillion in net revenue.
