Wood products are expected to fetch 5.5 billion USD in export value thisyear as targeted, according to the Ministry of Agriculture and RuralDevelopment (MARD).
In the first five months, wood and woodproducts gained a year-on-year increase of 10.4 percent in export valueto 2 billion USD.
Those products achieved an average exportvalue of 400 million USD each month during the first quarter this year.The figure saw a year-on-year surge of 35.2 percent in the first twomonths to 809 million USD and grew 15.7 percent in the first threemonths to 1.17 billion USD.
Vietnam also increased wood and wood product exports to its various markets, excluding Germany.
The country saw a surge of 20.7 percent in wood and wood productexports to the Republic of Korea , as well as growth of 19.1 percentin export to China , 16.3 percent to Japan , and 6 percent to the US.
MARD estimated that the export value of processed woodproducts would see a year-on-year increase of 10-15 percent to 5.5billion USD.
However, enterprises exporting wood productswill face many difficulties in production and business due to high inputcosts.
Many enterprises were forced to import 70 percent ofthe raw materials they needed, as local companies could meet only 30percent of their requirements.
Vietnam will reduce thevolume of natural wood exploited this year and plans to stop exploitingnatural wood next year, so the local timber industry must make plans tomaintain and expand production in order to achieve its export turnovertarget of 5.5 billion USD this year, the ministry said.
Thecountry has drawn up sustainable growth plans for the wood productprocessing industry up to 2020, according to MARD.
Theindustry will prioritise investing in and utilising domestic forestswhile reducing raw wood exports and improving management of supply.
Vietnam needs an annual 3-3.5 million cu. m of timber on average.
As domestic suppliers are currently only capable of meeting 30percent of the demand, the nation would import 4-4.5 million cu. myearly by 2020, the ministry said.-VNA
In the first five months, wood and woodproducts gained a year-on-year increase of 10.4 percent in export valueto 2 billion USD.
Those products achieved an average exportvalue of 400 million USD each month during the first quarter this year.The figure saw a year-on-year surge of 35.2 percent in the first twomonths to 809 million USD and grew 15.7 percent in the first threemonths to 1.17 billion USD.
Vietnam also increased wood and wood product exports to its various markets, excluding Germany.
The country saw a surge of 20.7 percent in wood and wood productexports to the Republic of Korea , as well as growth of 19.1 percentin export to China , 16.3 percent to Japan , and 6 percent to the US.
MARD estimated that the export value of processed woodproducts would see a year-on-year increase of 10-15 percent to 5.5billion USD.
However, enterprises exporting wood productswill face many difficulties in production and business due to high inputcosts.
Many enterprises were forced to import 70 percent ofthe raw materials they needed, as local companies could meet only 30percent of their requirements.
Vietnam will reduce thevolume of natural wood exploited this year and plans to stop exploitingnatural wood next year, so the local timber industry must make plans tomaintain and expand production in order to achieve its export turnovertarget of 5.5 billion USD this year, the ministry said.
Thecountry has drawn up sustainable growth plans for the wood productprocessing industry up to 2020, according to MARD.
Theindustry will prioritise investing in and utilising domestic forestswhile reducing raw wood exports and improving management of supply.
Vietnam needs an annual 3-3.5 million cu. m of timber on average.
As domestic suppliers are currently only capable of meeting 30percent of the demand, the nation would import 4-4.5 million cu. myearly by 2020, the ministry said.-VNA
