Business

Wood and forestry exports plunge in second quarter

The export value of the wood processing and forestry sector was 2.18 billion USD in the second quarter of 2020, dropping 11.3 percent against the first quarter and 20 percent against the same period last year.
Wood and forestry exports plunge in second quarter ảnh 1Illustrative photo (Source: VNA)
 
Hanoi (VNA) – The export value of the wood processingand forestry sector was 2.18 billion USD in the second quarter of 2020,dropping 11.3 percent against the first quarter and 20 percent against the sameperiod last year.

According to the Vietnam Administration of Forestry (VAF),the revenue gained from the sector’s biggest importer – the US – reached 1.03billion USD, down 18 percent year-on-year and 33.4 percent quarter-on-quarter.

Its exports to other key markets, namely China, Japan, andthe Republic of Korea,  recorded a annualrise ranging between 5 and 20 percent.

In the first half of 2020, the sector’s export earnings hit11.75 billion USD in total, up 3.9 percent from 2019.

Vietnamese wood and forestry products have been shipped toover 120 countries and territories worldwide. The country ranks first in ASEAN,second in Asia and fifth in the world for wood exports./.
VNA
#export value #wood processing #Vietnam Administration of Forestry #wood and forestry exports #Vietnamese wood and forestry products #Vietnam #Vietnam News Agency #vietnamplus
Follow VietnamPlus

Related News

Wood processing firms survive amid COVID-19

Wood processing firms survive amid COVID-19

Many wood processing firms have managed to operate despite the COVID-19 pandemic and many have even chalked out measures to take advantage of the opportunities on offer when the pandemic is over.
Wood exports grow thanks to businesses’ activeness

Wood exports grow thanks to businesses’ activeness

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.

See more

Minister of Industry and Trade Nguyen Hong Dien (L) and US Secretary of Energy Chris Wright in Washington D.C. on March 13. (Photo: VOV)

Vietnam, US look to strengthen comprehensive energy cooperation

Vietnam’s consistent policy is to foster a balanced, sustainable, stable, and win-win economic relationship with the US, the minister stated. Vietnam does not intend to create any barriers that could negatively impact the US’s workers or its economic and national security, Minister of Industry and Trade Nguyen Hong Dien said.

Deputy Prime Minister Nguyen Chi Dung speaks at the first meeting of the steering committee for the building of a project on the private economic sector's development in Hanoi on March 15. (Photo: VNA)

Private sector's development key to Vietnam’s economic growth

Currently, the private economic sector comprises over 6.1 million business establishments, including approximately 940,000 registered enterprises and over 5.2 million household businesses. The sector contributes around 50% of the country’s GDP, accounts for over 56% of total social investment, employs approximately 82% of the workforce, and generates around 30% of state budget revenue and more than 30% of total import-export turnover.

Prime Minister Pham Minh Chinh receives Wouter Van Wersch, Executive Vice President of Airbus International. (Photo: VNA)

PM suggests Airbus help Vietnam in developing aviation ecosystem

During a meeting on March 14 with Wouter Van Wersch, Executive Vice President International of Airbus, Prime Minister Pham Minh Chinh praised the aerospace giant’s cooperation with Vietnamese partners, emphasising its role in boosting domestic and international connectivity and driving Vietnam’s socio-economic growth.

The Vietnam Consumer Rights Day 2025 is under the theme "Transparent Information – Responsible Consumption". (Photo: VNA)

Hanoi launches campaign for Consumer Rights Day

The event, organised by the city's Department of Industry and Trade, aimed to promote consumer protection as a long-term, essential task for all levels of government, businesses and society.

At a MoU signing ceremony between PV Gas and ConocoPhillips, Excelerate Energy (Photo: VNA)

Vietnam – US economic ties strengthened with multiple agreements

PetroVietnam Gas Joint Stock Corporation (PetroVietnam PV Gas) signed Memoranda of Understanding with ConocoPhillips, an independent exploration and production company, and Excelerate Energy regarding long-term liquefied natural gas (LNG) purchase agreements.