Forestry export may hit record high in 2019

VGP – The forestry sector saw a year-on-year growth of over 5% and was expected to earn US$ 11.3% of export turnover in 2019, said Permanent Deputy Minister of Agriculture and Rural Development Ha Cong Tuan.

December 19, 2019 10:47 AM GMT+7

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Mr. Tuan said that in 2019, the sector gained a growth rate of 5% of which export turnover was estimated at US$ 11.3 billion, up 20% against 2018 which is a record high.

The forestry sector is expected to run a trade surplus of about US$ 8 billion, making important contribution to trade surplus of the agricultural and rural development sector.

Deputy Minister Tuan attributed the achievements to positive restructuring of the sector towards forest plantation and value chain connectivity.

In October, overseas shipment of agro-forestry-fishery sector was estimated at US$ 3.6 billion, up 17% against September. In the first ten months, forestry export turnover valued US$ 9.04 billion, up 18.8%, accounting for 27.2% of export turnover.

Viet Nam ranks second in Asia and fifth in the world in terms of furniture production and export. So far, made-in-Viet Nam forestry products have been available in 140 foreign countries and territories. Viet Nam’s key importers included the U.S., Japan, China, EU, and the RoK which accounted for over 80% of the market share.

Viet Nam housed 4,500 wood and forestry production enterprises of which 1,800 engaged in wood export./.

By Kim Loan