Business

Forestry exports set a record of 17.3 billion USD

Vietnam gained 1.55 billion USD from the export of timber and wood products in December, up 6% compared to the previous month and 15.8% year-on-year, according to the Forestry Department under the Ministry of Agriculture and Rural Development.

Vietnam gains 1.55 billion USD from the export of timber and wood products in December. - Illustrative image (Photo: vietnameconomy.vn)
Vietnam gains 1.55 billion USD from the export of timber and wood products in December. - Illustrative image (Photo: vietnameconomy.vn)

Hanoi (VNS/VNA) - Vietnam gained 1.55 billion USD from the export of timber and wood products in December, up 6% compared to the previous month and 15.8% year-on-year, according to the Forestry Department under the Ministry of Agriculture and Rural Development.

Wood products alone are estimated to contribute 1.1 billion USD, representing an increase of 7.5% compared to November and 15.5% year-on-year.

Including non-wood products, the total export turnover for forestry products is estimated at 1.68 billion USD.

For the entire year, Vietnam’s forestry export turnover is estimated to reach a record of 17.3 billion USD, marking a 19.4% growth year-on-year. Of this, timber and wood products contributed 16.3 billion USD, while non-wood forestry products made up the remainder.

Export turnover for timber and wood products in 2024 increased by 21% compared to 2023, said Director of the Forestry Department, Tran Quang Bao.

The forestry sector's trade surplus is expected to reach an impressive 14.4 billion USD.

Wooden frame chairs led the export categories. By the end of November 2024, they generated 3.1 billion USD, reflecting a 24% increase year-on-year.

Other notable categories exceeding 1 billion USD in export value included living and dining room furniture, wood chips, bedroom furniture, wood panels and flooring and kitchen furniture.

The US remained Vietnam's largest market for timber and wood product exports, accounting for over 55% of the total export turnover.

The Forestry Department attributed the positive growth to strong demand and reduced inventory levels in the US market.

Bao highlighted significant achievements in forest development, harvesting, processing and export.

The total area of newly planted forests in 2024 is estimated to exceed 270,000 hectares, a 2.4% increase year-on-year. About 97 million scattered forestry trees were planted, up 3.4% year-on-year.

Wood harvesting output reached 22.7 million cubic metres, a 7.9% increase year-on-year.

In 2024, the Forestry Department enhanced the quality management of forestry plant varieties. Thanks to that, the rate of forestry tree varieties whose origin and quality are controlled for planting reached 85 to 90%.

Building on these achievements, the forestry sector aims for a production growth rate of up to 5% in 2025. Export turnover for forestry products is projected to reach 18 billion USD next year./.

VNA
#Forestry Department #timber and wood products #Export turnover #US market
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