Vietnam earned nearly 5 billion U.S. dollars from exporting wood and wood-based products in the first half of this year, up 2.4 percent against the same period last year, according to the Vietnam Administration of Forestry.
In June alone, the country reaped 900 million U.S. dollars from exporting wood and wood-based products, up 9.9 percent on-year, a good sign of recovery following the relaxation of Covid-19 lockdown measures.
Between January and June, Vietnam spent over 1.1 billion U.S. dollars to import wood and wood-based products, posting a decline of 8.5 percent on-year, according to the administration.
Local businesses said that the prospect for wood and wooden products export in the third quarter this year is not yet positive, given complex developments of the COVID-19 pandemic in Vietnam’s key markets including the United States, the European Union and Japan, local media reported.
The country earned 10.5 billion U.S. dollars from exporting wood and wood products in 2019, with its biggest markets being the United States, Japan and China.
Vietnam has halted the exploitation of natural forests since 2017, and has intensified forestation as well as timber import.
In 2019, Vietnam had more than 5,000 enterprises involved in the production and processing of wood and wood-based products compared to 100 companies in 2000, according to Vietnam Timber and Forest Product Association.
The post Vietnamese wood and wood products exports recover in June appeared first on Timber Industry News.