Wood, wooden product exports rise 6.2 pct.

Wood and wooden product exports hit 1.05 billion USD in July, bringing the figure to 6.09 billion USD in the first seven months of this year, a year-on-year rise of 6.2 percent, the Ministry of Agriculture and Rural Development (MARD) has revealed.

Wood and wooden product exports hit 1.05 billion USD in July, bringing the figure to 6.09 billion USD in the first seven months of this year, a year-on-year rise of 6.2 percent, the Ministry of Agriculture and Rural Development (MARD) has revealed.

Imports by the sector neared 1.31 billion USD in the seven-month period, down 10.3 percent compared to the same period last year. It therefore posted a surplus of 4.78 billion USD.

The US, China, Japan, and the Republic of Korea remained the top four export destinations, accounting for the lion’s share at 84 percent.

Vietnam’s plywood industry has grown at an average rate of 31 percent annually in the last five years, according to the Agro Processing and Market Development Authority at MARD. There are now 42 FDI projects in the country’s plywood industry.

With the EU-Vietnam Free Trade Agreement having taken effect in August, Vietnam expects to see wood and wooden product export revenues increase 17 percent as tariffs are lifted.

Source: VNA