02:17 (GMT +7) - Monday 23/10/2017

Vietnam Today

2017 wood export turnover can reach $8bn target

Released at: 17:59, 06/10/2017

2017 wood export turnover can reach $8bn target

Photo: Hai Van

Conference hears of year-to-date figures and the fact that wood and wooden product exports always rise in closing months of the year.

by My Van

Wood export turnover can reach the targeted $8 billion this year, Mr. Nguyen Ton Quyen, Secretary General of Vietnam Forest (Vifores), told a conference on wood exports and imports on October 5.

Wood and wooden product export turnover stood at $3.57 billion in the first six months of the year, up 13.6 per cent compared to the $3.14 billion recorded in the first half of 2016. Export turnover came in at $700 million each month on average during the first nine months.

Mr. Quyen emphasized that the export season for wood and wooden products is the final three months of the year, so he believes turnover can reach the targeted $8 billion for the year.

Because of its significant growth, however, Vietnam’s wood and wooden product sector has had to address a range of problems. Resource are shrinking as competition is rising, from both domestic suppliers and imports.

China’s policy banning natural wood harvesting from natural forests together with policies tightening the exploitation, trade and export of raw materials in other countries supplying natural forest timber from tropical forests has created a shortage.

The domestic supply of raw materials is particularly acute for planted timber and rubber wood.

Mr. To Xuan Phuc, Policy Analyst at Forest Trend in the US, told the conference that in the first half of the year, turnover from wood material exports was $1.2 billion, up 12.8 per cent year-on-year.

Wooden product export turnover reached $2.36 billion, up 14 per cent year-on-year.

As at September, total export value was estimated at $5.51 billion for the year, an increase of 10.6 per cent year-on-year. The US, China, and Japan were Vietnam’s three largest markets for wood and wooden products in the first eight months of the year, together accounting for 70.3 per cent of value.

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