Forestry exports likely to hit US$9 billion in 2018


The forestry sector is aiming to make US$9 billion from exports and raise the percentage of forest coverage to 41.65%, according to the Vietnam Administration of Forestry (VNFOREST) under the Ministry of Agriculture and Rural Development.

At a meeting in Hanoi on July 9 to propose key tasks for the second half of the year, VNFOREST reported that the value of forestry production is estimated at nearly VND13 trillion for the first half of 2018, a year-on-year rise of 12.7%, while forestry exports increased 12.7% to more than US$4.3 billion.

The sector recorded the highest trade surplus among key agricultural export products at more than US$3.2 billion.

The wood processing and forestry industry has developed strongly. Timber products have been exported to more than 100 countries and territories with key markets such as the US, the EU, Japan, the Republic of Korea and China.

To fulfil the target of US$9 billion export revenue, the sector continues to expand high value production models and implement comprehensive measures from materials to technological adaptation, while keeping its traditional markets and expanding to new ones.

Nguyen Quoc Tri, head of VNFOREST, said businesses must pay attention to using legal materials for their export products to minimize risks.