This year’s forestry exports are estimated at over US$16.9 billion, up 6.1% from 2021, according to the Vietnam Administration of Forestry.

Tight timber supply, coupled with transport delays, has been holding back furniture manufacturers, exposing the need for domestic substitution for imported timber.

VOV.VN - The export value of local agro-forestry-aquatic products hit US$14.2 billion in the first two months of the year, a surge of 15.8% on-year, according to figures compiled by the Ministry of Agriculture and Rural Development.

VOV.VN - The implementation of the EU-Vietnam Voluntary Partnership Agreement on Forest Law Enforcement, Governance and Trade, along with the EU-Vietnam Free Trade Agreement, are expected to boost the value of local timber in EU market.