HCMC – Vietnam’s wood and forestry exports are expected to exceed US$17.2 billion this year, an 18.9% increase from 2023 and 13.1% above the annual target, according to the Forestry Department.
In the first 11 months of the year, exports were estimated at US$15.62 billion, a 19.8% year-on-year increase. Of this, wood products contributed US$10.09 billion, up by 22.5%, while raw wood exports totaled US$4.58 billion, a 17.8% rise. Non-timber forest products accounted for US$950 million, a 4.4% increase, reported the Government news site (baochinhphu.vn).
The sector achieved a trade surplus of US$13.11 billion during the period, driven by robust demand from major markets such as the U.S. and the European Union.
Nguyen Quoc Khanh, chairman of the HCMC Handicraft and Wood Industry Association, noted that the U.S. remains Vietnam’s largest market for wood and forestry products, accounting for 52-55% of the sector’s export value.
Looking ahead, the forestry industry aims to achieve US$18 billion in export revenue by 2025 while focusing on expanding sustainably managed forest areas and enhancing revenues from environmental services.
