Timber Industry News Article: August 27, 2020 :: https://www.timberindustrynews.com/vietnams-wood-products-export-6-2-7-months
Vietnam exported nearly 6.1 billion U.S. dollars of wood and wood-based products in the first seven months of this year, up 6.2 percent against the same period last year, according to the Vietnam Administration of Forestry.
In July alone, the country reaped nearly 1.1 billion U.S. dollars from exporting wood and wood-based products, surging 20.7 percent on-year.
Export showed positive signs in July as many export markets of Vietnamese wood and wood-based products have gradually eased social distancing and restrictions. However, the export prospect in the coming months is not yet positive, given complex developments of the COVID-19 pandemic in Vietnam’s key markets worldwide, according to a recent report by the country’s Ministry of Industry and Trade.
Between January and July, Vietnam spent over 1.3 billion U.S. dollars to import wood and wood-based products, posting a decline of 9.5 percent on-year, according to the administration.
The country earned 10.5 billion U.S. dollars from exporting wood and woodwork in 2019, up 18.2 percent on-year with its biggest markets being the United States, Japan and China.
Vietnam has halted the exploitation of natural forests since 2017 and has intensified forestation as well as timber import.
In 2019, Vietnam had more than 5,000 enterprises involved in the production and processing of wood and wood-based products compared to 100 companies in 2000, according to Vietnam Timber and Forest Product Association.