Vietnam timber export makes record this year

Vietnam's timber and forestry exports are expected to make a value of US$13 billion this year, surpassing the target thanks to the efforts of companies and support from the government agencies to overcome dificulties caused by Covid-19.

The timber and wooden product industry is expected to reach a revenue of US$14 billion - US14.5 billion in 2021.

During January-November, export turnover from timber and wooden products reached US$12.6 billion, up 11.5% compared to 2019 and represented a trade surplus of US$10 billion in the whole year of 2020 according to the Ministry of Agriculture and Rural Development (MARD). 

It is the fifth consecutive month that the sector’s export turnover continued to attain more than US$1 billion, contributing to make a record revenue this year.

Vietnam’s wooden products are exported to 140 countries and territories, mainly to key traditional markets such as the US, Japan, South Korea, EU and China.

Local enterprises have focused on expanding  the scale of production, and improving management capacity and application of modern science and technology.

In 2019, Vietnam has over 5,539 enterprises and 340 craft villages involved in production and trade of timber and forest products. Among those, 4,873 enterprises are exporters of such products.

According to MARD Deputy Minister Ha Cong Tuan, Vietnam's timber and wooden product exports represent only about 6% of the world market share, which is expected to expand along with the signing of a series of free trade agreements between Vietnam and other countries.

He was speaking at the conference on solutions to boost the production, processing and export of timber and wood products in the period 2021-2025 held on December 1 in the central province of Nghe An.

Tuan said the industry is expected to reach export revenue of US$14 billion-US14.5 billion next year, up 10-11% compared to 2020. It sets the goal of attaining an export value by 2025 of US$18 billion-US$20 billion.