A worker checks furniture products at Tai Phuoc Co., Ltd. in Phu Tai Industrial Park in the central coastal province of Binh Dinh (Photo: VNA) The export turnover of wood andwood products has seen an average increase of 15.4 percent per year in the2017-2020 period, or 1.35 billion USD, even greater than the totalturnover of many items.
The export turnover of wood andwood products reached approximately 3.7 billion USD in the first quarter ofthis year, up 41.5 percent, nearly double the growth rate of the total exportturnover of the country at 22 percent.
It is expected the exportturnover of wood will surpass the 14.8 billion USD benchmark, an increase ofnearly 20 percent, or 2.4 billion USD compared to the previous year.
Export turnover of wood andwood products is the sixth largest among Vietnamese export sectors. Wood andwood products are also the items with the largest trade surplus, contributingto improving the trade balance.
This sector has achieved suchgreat results due to many factors, including the rate of forest cover beingkept at around 42 percent. Every year, the concentrated afforestation area isover 260,000 hectares.
These are among the factors toprotect and improve the environment, as well as a fundamental factor to createjobs, reduce poverty rates in the mountainous and midland provinces, and as asource of raw materials for wood processing industry and wood export.
The amount of annual exploitedwood has increased, surpassing 10 million cubic metres in 2015 and 16million cubic metres in2019.
Exploited wood grew by 33.9 percentlast year compared to 2016, an average annual increase of 7.6 percent, or 1.07million cubic metres.
In terms of market, the US isthe largest export market, accounting for 60.4 percent of Vietnam's total woodexport turnover, followed by China with 9.9 percent, Japan 9.5 percent, and theRepublic of Korea 5.7 percent. These four markets alone account for 85.5 percentof the total.
In terms of productioncapacity, excluding individuals, production groups and cooperatives, Vietnamcurrently has nearly 12,000 enterprises, with about 500,000 employees and 320trillion VND (nearly 14 billion USD) of production-business capital over 120trillion VND in value of fixed assets, and nearly 360 trillion VND in netrevenue./.
VNA
