At a wood processing plant in Tan Yen, Binh Duong province (Photo: VNA) Hanoi (VNA) - Wood and woodenproduct exports hit 1.05 billion USD in July, bringing the figure to 6.09billion USD in the first seven months of this year, a year-on-year rise of 6.2percent, the Ministry of Agriculture and Rural Development (MARD) has revealed.
Imports by the sector neared 1.31 billionUSD in the seven-month period, down 10.3 percent compared to the same periodlast year. It therefore posted a surplus of 4.78 billion USD.
The US, China, Japan, and the Republic ofKorea remained the top four export destinations, accounting for the lion’sshare at 84 percent.
Vietnam’s plywood industry has grown at anaverage rate of 31 percent annually in the last five years, according to the AgroProcessing and Market Development Authority at MARD. There are now 42 FDI projectsin the country’s plywood industry.
With the EU-Vietnam Free Trade Agreement havingtaken effect in August, Vietnam expects to see wood and wooden product exportrevenues increase 17 percent as tariffs are lifted./.
