WORDS ON THE STREET 70th anniversary of Hanoi's Liberation Day Vietnam - Asia 2023 Smart City Summit Hanoi celebrates 15 years of administrative boundary adjustment 12th Vietnam-France decentrialized cooperation conference 31st Sea Games - Vietnam 2021 Covid-19 Pandemic
Home / Economy / Industry
Vietnam timber export makes record this year
Nhat Minh - Anh Ngoc 09:09, 2020/12/03
The wood processing industry continues to be among top 10 key export categories in 2020.

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.

RELATED NEWS
TAG: wood wooden product export key export categories local exporters
Other news
14:47, 2024/11/15
Year-end hiring spree as Hanoi companies ramp up recruiting
In the fourth quarter, many major holidays will lead to increased hiring as companies finalize orders and anticipate new projects.
13:33, 2024/11/14
Vietnam's digital economy expected to grow big in 2024
E-commerce is expected to reach US$22 billion in 2024, leading the growth of Vietnam's digital economy.
22:03, 2024/11/13
Incheon-Hanoi conference marks milestone in tourism development cooperation
Hanoi and South Korea's Incheon aim to increase their visibility among Vietnamese and international travelers through a series of events to promote MICE (Meetings, Incentives, Conferences and Exhibitions) tourism and medical tourism to Vietnam.
14:21, 2024/11/12
Hanoi's businesses place focus on digital transformation
Businesses need to utilize digital technologies to streamline operations, increase efficiency, and provide greater value to customers.
03:04, 2024/11/08
Semiconductor market reaches $18.2 billion: SEMIEXPO Vietnam 2024
Vietnam a key player in tackling the challenges facing the global semiconductor supply chain.
15:52, 2024/11/07
Hanoi DigiTech 2024 connects businesses through digital products
The expo offers companies a chance to showcase their tech products and services while seeking strategic partners in e-commerce and digital technology.