Despite the COVID-19 pandemic’s impact, the wood industry still enjoyed 3.2 billion USD in exports in the first four months of 2019, up 6 percent year on year, thanks to businesses’ efforts to switch to online trading and find new markets.
With Vietnam’s main agro-forestry-fishery export markets after China such as the US and Europe being hit by the new coronavirus-caused acute respiratory disease (COVID-19), Vietnamese exporters are suffering.
The export revenue of timber and woodwork products is projected to reach 7.4 billion USD, 200 million USD less than the target set for the sector this year.
Vietnam's wood industry is expected to gain a total export value of wood and wooden products of 7.7 billion USD for this year, higher than 7.1 billion USD in 2015.
Vietnam’s wood sector pocketed 425 million USD from exports to China in the first half of this year, ranking second among Vietnamese exports to China behind cassava.
The export value of wood products is forecast to reach 7 billion USD
next year, said General Secretary of the Vietnam Timber and Forest
Products Association (Vifores) Nguyen Ton Quyen.
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