Exporting woods absolutely achieves $US 10 billion in 2020

Discussing with a reporter of Customs News, Mr Nguyen Ton Quyen, Vice President and Secretary General of Vietnam Timber and Forest Product Association (VIFORES) affirmed that with the current growth momentum, it is expected that by 2020, exporting timber and wood products will reach $US 10 billion.

exporting woods absolutely achieves us 10 billion in 2020
The current growth rate of imported wood and woods products is approximately 10-15%/ year. Photo: Nguyễn Thanh

Currently, the Association has reported to the Ministry of Industry and Trade and Ministry of Agriculture and Rural Development (MARD) on this issue. Among the amount of $US 10 billion, exporting to the US market are estimated to account for $US 3 billion, the EU market is about $US1 billion, the rest are other markets.

According to the report of the MARD, the export turnover of the first ten months of this year is estimated at $US 6.15 billion, increased by 10.1% over the same period of 2016. The United States, China, and Japan are three largest markets of importing wood in the first 9 months with the market share was 42.5%, 14.1% and 13.8% respectively. The markets with strong export value were the United States (18.8%), Canada (15.1%), South Korea (11.1%) and China (9.1%).

Mr Quyen forecasts that exporting timber and wood products could reach $US 8 billion in the whole year of 2017.

By Nguyễn Thanh/Thanh Thuy