Forest products surpasses seafood in export value

The export value of forest products from early this year until May 24 surpassed that of seafood products to become the leader in the agro, forests and seafood export group.

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The export value of forestry products in the first five months of this year was estimated at US$3.43 billion
This was reported by Nguyen Quoc Tri, Director General of the Vietnam Forestry Administration.

The Ministry of Agriculture and Rural Development (MARD) estimated the export value of forestry products in the first five months of this year at US$3.43 billion, up by 8.7% year-on-year. In May, the export value stood at US$663 million, reported Thoi bao Tai chinh Vietnam (Vietnam Financial Times) newspaper.

MARD also confirmed that forest product exports accounted for 22% of the agricultural sector’s total export value.

The forestry industry had high export value but low import value, which resulted in a trade surplus. 

The US, China, Japan and the Republic of Korea were the four largest export markets of Vietnam’s wood and wood products in the first five months of 2018, Tri said.

To promote the export of forest products, MARD is currently promoting a programme of development and protection forestry.

Vietnam’s export of forest products is expected to reach US$9 billion in 2018, with wood and wooden products accounting for US$8.5-US$8.7 billion.
VNA

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