Wood exports expected to hit 7 bln USD
Vietnam is likely to rake in 7 billion USD from exporting wood and wood-based products in 2015, up 500 million USD against 2014.
Illustrative image (Source: VNA)According to the Department of Forestry under the Ministry of Agriculture and Rural Development, the outlook for Vietnam’s wood exporters is promising and will enable the country to maintain its yearly growth of 15-20 percent.
The signing of the Vietnam-EU free trade agreement as well as the country’s participation in the Trans-Pacific Partnership agreement also open greater opportunities for Vietnam’s wood sector, with its export value forecast to expand after 2018.
Currently, Vietnam is the sixth largest wood exporter in the world, with export value growing 27.15 percent a year on average from 2001 to 2010, and 15 percent on average in the last five years to reach 6.5 billion USD in 2014.
China, Japan and the US are the three biggest importers of the commodity./.
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