Wood industry achieves impressive growth

Tuesday, 20/07/2021 18:19
In the context of the complicated developments of the COVID-19 epidemic, the wood industry still achieved impressive growth in the first half of the year, achieving 61% of the total turnover of 2020.

Producing plywood for export at VINA Wood Investment Joint Stock Company, Thanh Binh Industrial Park, Cho Moi District (Bac Kan). (Photo: nhandan.com.vn)

If this momentum is maintained, the target of 14 to 14.5 billion USD in export turnover that the Government has set for the wood industry in 2021 is completely achievable.

According to the Vietnam Administration of Forestry, while many other industries faced difficulties because of the epidemic situation, the export value of wood and forest products in the first half of the year still reached 8.71 billion USD. Of this, wood of all kinds was valued at 1.76 billion USD, up 23.6%; wood products, 6.35 billion USD, up 75.4%; and non-timber forest products, 0.6 billion USD, up 72.9%.

The US, Japan, China, EU, and the Republic of Korea continue to be the important export markets for Vietnamese wood and forest products. Particularly, export value in the five markets is estimated at more than 7.68 billion USD, accounting for about 89% of the total. Exports to the US market were estimated at over 5 billion USD, up 99% year on year; Japan, 0.73 billion USD, up 11%; China, 0.82 billion USD, up 22.9%; the EU, 0.68 billion USD, up 54%; and the Republic of Korea, 0.76 billion USD, up 7%.

Over the past 6 months, the industry received 23 new projects from nine countries and territories with a total capital of 136.05 million USD; 10 times of capital increase with a capital of 45.28 million USD; and 26 times of capital contribution to buy shares with a total capital of 41.14 million USD.

Notably, beds, cabinets, tables and chairs attracted an increase in all three areas: new projects, capital increases and capital contributions to buy shares.

According to the Vietnam Wood and Forest Products Association, so far, the majority of wood production and processing enterprises have received export orders until the end of 2021./.

BTA

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