Forestry becomes largest exporter in agriculture-aquaculture-forestry sector

VGP – Forestry exports in 2018 was estimated at US$9.3 billion, an increase of 15.9% against the previous year, becoming the largest exporter in the agriculture-aquaculture-forestry sector.

January 03, 2019 10:58 AM GMT+7

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Director general of the Ministry of Agriculture and Rural Department's (MARD) Viet Nam Administration of Forestry Nguyen Quoc Tri announced the information at a meeting on reviewing the forestry sector in the South in 2018.

Forestry exports officially overcame aquatic exports (US$9 billion) to take the lead in agriculture-aquaculture-forestry exports in 2018, making up 23%.

The forestry sector enjoyed the trade surplus of US$6.99 billion.

The export value of wood and wooden products made up 95% of the total, reaching US$8.8 billion.

The export value of top 100 wood firms attained US$4.1 billion, up 16.3% against in 2017.

Wood and wooden exports to key markets witnessed high growths in 2018. The U.S. was the largest importer of Viet Nam’s wood, making up 44%, followed by Japan (accounting for 13%), China, the Republic of Korea, the UK, Australia, Canada and France.

As the Comprehensive and Progressive Agreement for Trans-Pacific Partnership comes into effect since January 2019, the forestry sector will have opportunities to expand its export markets to other nations such as Mexico or Peru.

By Thuy Dung