Vietnam wood export post 50.5% in 4 months of 2021

The export turnover of wood and wood products hit 4.99 billion USD in the first four months of 2021, a surge of 50.5 percent year-on-year, according to the Ministry of Agriculture and Rural development.

In April alone, the export value of wood and wood products reached 1.2 billion USD, the ministry said.

The US, China, Japan and the Republic of Korea were the biggest importers of Vietnam’s wood in the period, accounting for 87.1 percent of the total export value.

In the last four months, the value of exports increased in almost all markets except for Taiwan (down 0.1 percent) and the UK (down 0.7 percent).

In the reviewed period, Vietnam spent 978.8 million USD on importing wood, up 33.6 percent compared to the same period last year, the ministry added.

Export turnover of wood and wood products is the sixth largest among Vietnamese export commodities. Wood and wood products are also the items with the largest trade surplus, contributing to improving the trade balance.

Vietnam currently has about 12,000 enterprises operating in wood production and processing, with about 500,000 employees and 320 trillion VND (nearly 14 billion USD) of production-business capital over 120 trillion VND in value of fixed assets, and nearly 360 trillion VND in net revenue./.

Source: http://www.globalwood.org/