The export value of forestry products in the first five months of this year was estimated at 3.43 billion USD (Photo: VNA)

Hanoi (VNA) - The export value of forest products from early this year until May 24 surpassed that of seafood products to become the leader in the agro, forests and seafood export group.

This was reported by Nguyen Quoc Tri, Director General of the Vietnam Forestry Administration.

The Ministry of Agriculture and Rural Development (MARD) estimated the export value of forestry products in the first five months of this year at 3.43 billion USD, up by 8.7 percent year-on-year. In May, the export value stood at 663 million USD, reported Thoi bao Tai chinh Vietnam (Vietnam Financial Times) newspaper.

MARD also confirmed that forest product exports accounted for 22 percent of the agricultural sector’s total export value.

The forestry industry had high export value but low import value, which resulted in a trade surplus. 

The US, China, Japan and the Republic of Korea were the four largest export markets of Vietnam’s wood and wood products in the first five months of 2018, Tri said.

To promote the export of forest products, MARD is currently promoting a programme of development and protection forestry.

Vietnam’s export of forest products is expected to reach 9 billion USD in 2018, with wood and wooden products accounting for 8.5-8.7 billion USD,-VNA