Vietnam aims to earn 14.5 billion USD from forestry exports

20/01/2021 12:00 - 47 total view

Forest product exports are expected to reel in 14.5 billion USD this year, up 12 percent against 2020, an official has said.

Deputy Minister of Agriculture and Rural Development Ha Cong Tuan unveiled the target in an interview with the Lao Dong (Labour) newspaper on the growth of the forestry sector over the next five years.

Export value is set to reach 20 billion USD in 2025. During the five-year period, he said, the sector will work to sustain the forest coverage rate at 42 percent, expand distribution markets, develop long-term trade partnerships, and promptly address trade issues for mutual benefits in line with international commitments.

The minister also touched on a number of positive outcomes made by the sector last year despite COVID-19.

Vietnam exported forest products worth over 13.22 billion USD, up 16.9 percent against the previous year, and 5.7 percent higher than the annual target.

The country now ranks fifth globally, second in Asia, and first in Southeast Asia in terms of forestry exports, with woodwork products available in over 120 countries and territories worldwide.

The US, Japan, China, the EU, and the Republic of Korea are the top five importers for the sector, with combined import value exceeding 11 billion USD or about 90 percent of Vietnam’s total forestry export turnover.

The country has more than 5,500 companies operating in wood and forest product processing, which generate millions of jobs./.
Source: Vietnam Plus