Vietnam’s general statistics office announced that in the first two months of this year, Vietnam exported more than US $2.4 billion worth of timber and timber products, up 51% year on year.
In February alone, Vietnam earned US $1.1 billion from exports of wood and wood products, up 42.1% year on year.
In 2020, Vietnam will earn more than US $12.3 billion from the export of wood and wood products, an increase of 15.7% over 2019, accounting for 4.4% of the total export revenue. China, Japan and the United States are the main markets.
In recent years, the positive development of Vietnam’s timber industry is mainly due to the opening of domestic business regulations and the impact of newly signed trade agreements, including the Pan Pacific Partnership for comprehensive progress, EU Vietnam free trade agreement and regional comprehensive economic partnership.
In January and February, Vietnam also spent 448 million US dollars to import wood and wood products, up 34.8% year on year. Due to the shortage of domestic wood resources, the country has to import wood from abroad. Since 2016, Vietnam has imposed a national ban on logging and reforestation.
Post time: Mar-22-2021