Wood industry’s export target of 14.5 billion USD reachable
Wood enterprises are getting back to normal after a long suspension of operations due to the COVID-19 pandemic, and are confident to earn a total of 14.5 billion USD from exports this year.
According to the Vietnam Timber and Forest Product Association (VIFOREST), the export turnover of Vietnam’s wooden and forest products hit 10.76 billion USD in the first nine months of 2021, up 30.5 percent year-on-year.
The export turnover of wood and wooded products reached 11.5 billion USD as of mid-October, while that of non-timber forest products was 0.7 billion USD.
In a recent survey by Forest Trend, 83 percent of surveyed enterprises said they have had recovery plans in which they will change their business strategies, ensure safe production, and increase the processing scale.
Experts said that materials and labour are two of the most important factors affecting production and business results of companies at this time.
Together with advantages of free trade agreements (FTAs) and firms’ activeness in increasing their operation capacity by 20-30 percent in the remaining months of this year, the wood industry can achieve its goal of 14.5 billion USD from exports this year, up 15 percent from 2020./.