This year’s forestry exports are estimated at over $16.9 billion, up 6.1% from 2021, according to the Vietnam Administration of Forestry.
The value includes about $15.85 billion worth of timber and wood products, rising 7%, and $1.1 billion worth of non-timber products, falling 1.3%.
Meanwhile, timber and wood product imports increased 4.1% to $2.82 billion.
That resulted in a trade surplus of $14.1 billion, up 6.5% from last year, statistics show.
Despite market fluctuations due to the impacts of the Russia - Ukraine conflict and the COVID-19 pandemic, forestry exports have still been on the rise thanks to the Government’s directions, ministries and sectors’ moves, and businesses’ efforts to surmount difficulties, Deputy General Director Bui Chinh Nghia told the administration’s conference in Hanoi on December 30.
The US, Japan, China, the EU, and the Republic of Korea were the main markets, purchasing $15.48 billion worth of forestry products from Vietnam, equivalent to over 90% of the total.
For 2023, the sector targets $17.5 billion worth of forestry exports, a growth rate of 5 - 5.5% in forestry production value, and forest coverage maintained at 42%, Nghia noted.