Vietnam earned about 1.52 billion USD from wood and forestry exports in March, raising the value in the first three months of this year to over 3.94 billion USD, up 41.5 percent year-on-year.
Hanoi (VNA)– Vietnam earned about 1.52 billion USD from wood and forestry exports in March,raising the value in the first three months of this year to over 3.94 billionUSD, up 41.5 percent year-on-year.
Of which, exports ofwood and wooden products nearly touched 3.7 billion USD, up 41.5 percent, andexports of non-timber forestry products reached 243 million USD, up 38.4percent.
According to theVietnam Administration of Forestry under the Ministry of Agriculture and RuralDevelopment, major export markets for Vietnamesetimber and forestry products were the US, Japan, China, the EU, and theRepublic of Korea (RoK), accounting for up to 90 percent of the total value.
Meanwhile,the import value of wood and wooden products was estimated at 227million USD in March and 709.6 million USD in the first quarter, up 31 percent over thesame period last year.
Thedomestic forestry sector ran a trade surplus of over 3.23 billion USD in thethree-month period, up 43.4 percent year-on-year.
Vietnameseenterprises have been importing wood and forestry products from China, the US,Cameroon, Thailand, and Chile, accounting for about 55 percent of the accumulativeimport revenue.
The rise in theimport value was due to higher prices of raw materials and increasing demand.
The Vietnam Administration of Forestry alsoreported that localities nationwide planted 31,498 hectares of forest so farthis year, up 16 percent as compared with the same period last year./.
Forestry exports will be no lower than 12 billion USD this year, Deputy Minister of Agriculture and Rural Development Ha Cong Tuan told a meeting in Hanoi on July 10.
Export revenue of forestry products hit over 5.3 billion USD in the first six months of 2020, up 2.7 percent over the same period last year, reported the Vietnam Administration of Forestry.
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Illustrative image (Photo: VNA) 
