The export value of timber and wooden products during the January-November period was estimated at 11.7 billion USD. (Photo: VNA) Hanoi (VNA) – The Ministry of Agriculture and Rural Development’s General Department of Forestry is confident of reaching the export target for timber and wooden products of 13 billion USD for the whole year 2020. The export value of timber and wooden products during the January-November period was estimated at 11.7 billion USD, up 1.6 billion USD from the same time in 2019. The forestry sector eyes 14.5 billion USD in export revenue in 2021, and 20 billion USD in 2025. According to the General Department of Forestry, Vietnam has many opportunities to expand export markets and increase export value for timber and wooden products. The world’s furniture and wooden product market is large with a value of about 430 billion USD, including 150 billion USD from furniture products. Meanwhile, Vietnam’s furniture products at present only account for about 6 percent of the global market share. Besides traditional markets with high export value such as the US, Japan, China, EU, and the Republic of Korea, some other potential markets also bring more opportunities for Vietnam to promote furniture exports, like… Read full this story
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