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Vietnam is world’s fifth major timber exporter

Vietnam is world’s fifth major timber exporter

Hanoi, Aug 10 (Prensa Latina) Vietnam consolidated itself as the world's fifth major timber and timber products exporter by shipping 9.58 billion dollars between January and July this year, the General Customs Office reported on Monday.
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That figure accounted for a 55-percent rise compared to the same period last year and puts the country in a position to reach the goal of selling more than 15 billion dollars in 2021, despite the complex circumstances imposed by the Covid-19 pandemic.

The sector’s good performance was strongly determined by the Free Trade Agreement between Vietnam and the European Union (EU), which was activated in August 2020.

But as it is traditional, among more than 100 countries to which Vietnam supplies these exports, the United States, Japan and China were the major markets, which along with the EU and South Korea, take about 90 percent of turnovers.

Vietnam is expected to become the second major timber and timber products exporter in Asia and the first in Southeast Asia, with an annual average growth of 5.5 percent until 2025 and revenues of 20 billion dollars a year.

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