Business

Wood exports to hit record of 18 billion USD this year

The export turnover of wood and wood products is expected to set a record high of 18 billion USD in 2023, with wood pellets and woodchips forecast to enter the one-billion USD club.
Wood exports to hit record of 18 billion USD this year ảnh 1Export turnover of wood and wood products forecast to set record high of 18 billion USD in 2023 (Photo: VNA)
Hanoi (VNA) – The export turnover of wood and wood products is expectedto set a record high of 18 billion USD in 2023, with wood pellets and woodchips forecast to enter the one-billion USD club.

President of the Vietnam Timber & Forest ProductsAssociation (Viforest) Do Xuan Lap said that the figure will represent a growthrate of 7-9%.

To that end, the industry will focus on raising the competitivenessof enterprises by reducing the use of imported wood, applying science andtechnology in improving labour productivity, and stepping up digitaltransformation to cut production costs.

In fact, in the fourth quarter of 2022, the number of ordersdecreased, and the gloomy atmosphere may linger on until the end of the firstquarter of 2023. However, most of businesses believe that the situation maybegin brightening from the second quarter.

Pellets and woodchips are also hoped to be a motivation forthe development of the sector this year.

Nguyen Thanh Phong, head of the wood pellet branch under theViforest, said that Vietnam earned over 700 million USD from exporting nearly4.7 million tonnes of pellets last year, up 35% in volume and 81% in valueyear-on-year,

Currently, Vietnam is the world’s second biggest exporter ofwood pellets, and the export value of this product is predicted to surpass 1billion USD this year./.

VNA
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