Vietnam’s wood industry has recorded positive signs with significant increases in the export of key products despite ongoing global economic uncertainties, according to the Q3 meeting on wood processing and export held in the southern province of Binh Duong on August 9.

In the first half of this year, the total trade turnover between Vietnam and the UK reached more than US$3.9 billion, an increase of 21.7% over the same period from 2023, with Vietnam recording a trade surplus of more than US$3.2 billion, up 28.5% on-year, according to preliminary statistics compiled by the General Department of Customs.

Businesses, farmers, and management authorities need to develop rational strategies in response to market changes to create breakthroughs and achieve the set export revenue target of US$4-4.3 billion for the year, experts have said.

According to the Ministry of Agriculture and Rural Development (MARD), Vietnam's total export value of agricultural, forestry, and fishery products in the first seven months of 2024 reached US$34.27 billion.

The EVFTA has strengthened Vietnam’s attractiveness to European investors, and has significantly boosted Vietnam’s exports to Europe.

The relevant complaint was submitted to EUROFER in June 2024

Goods shipments to the US, Vietnam’s largest market for export, have seen a strong resurgence over the recent months, with their value exceeding 10 billion USD in June and July.

The domestic state budget has witnessed a surplus so far this year, reflecting a rise in revenue from export and import activities, but not from crude oil.