Forestry exports expected to beat US$11.3 billion during 2019 The forestry sector has maintained a high growth rate of over 5 per cent throughout the year with export turnover being recorded at an estimated US$11.3 billion, up roughly 20 per cent on-year, according to Deputy Minister of Agriculture and Rural Development Ha Cong Tuan. With such a high export turnover recorded throughout the year, the forestry sector is poised to enjoy a trade surplus of approximately US$8 billion, therefore making a considerable contribution to the agricultural sector’s overall growth. Vietnam’s forest products have been exported to over 140 countries and territories worldwide. As a result, the country’s main export markets for forest products include the United States, Japan, China, the EU, and the Republic of Korea, which account for over 80 per cent of the nation’s total export value of forest products. There are over 4,500 domestic wood processing enterprises and establishments nationwide, of which over 1,800 local firms are directly involved in export activities. In addition to businesses in the FDI sector, the wood processing industry has developed on a large scale and currently enjoys greater use of technology, while processed products of diverse patterns and types are now… Read full this story
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