Vietnam posts nearly US$5 billion worth of wood exports in seven months

8/2/2018 - 4:19:03 PM

The export revenue of wood and wooden products was estimated at US$4.8 billion in the first seven months of this year, an increase of 11.6% compared to the same period in 2017, the Ministry of Agriculture and Rural Development has announced.

Vinanet forecast that Vietnam's exports of wood and wooden products will increase by 13%-15% in the second half of 2018

According to the Vietnam Industry and Trade Information Centre (Vinanet), FDI firms reported over US$1.78 billion worth of export revenue from wood and wooden products in the first six months of this year, up 4.8% over the same period last year and equivalent to 43.2% of the total export revenue of wood and wooden products.

The US, China, Japan and the Republic of Korea (RoK) were the largest wood importers of Vietnam in the first half of this year, accounting for 78.5% of the total export value of wood and wooden products.

During the six-month period, Vietnam earned US$1.6 billion from the exports of wood and wooden products to the US, an annual increase of 12.48%, which also occupied 41% of the total export revenue of wood and wooden products.

China came in second with export revenues of US$555.6 million, accounting for 13.4% of Vietnam's total export revenue, a slight rise of 0.02% over the same period last year.

Meanwhile, the markets that witnessed sharp increases in the export value included Malaysia (2.1 times higher), RoK (up 52.8%), France (up 24.8%), the US (up 12.5%), and Australia (up 14.8%).

However, the exports of wood and wooden products to Hong Kong (China) and Austria fell sharply in the first half of 2018, down 44.68% and 35.56% respectively.

Vinanet forecast that Vietnam's exports of wood and wooden products will increase by 13%-15% in the second half of 2018 due to an improved real estate market and increasing demand for the repair and replacement of furniture in the remaining months of the year.

Source: NDO

Workers excited to return to work after Tet

After the Lunar New Year (Tet) holidays, trade union members and workers in Hoa Binh province returned to work with an excited spirit at the beginning of the new spring. Throughout the workshops, factories and enterprises, they were full of enthusiasm, immediately getting to work, striving to excellently complete tasks and production and business targets.

Sweet, fragrant red grapefruit of Tan Lac

Red grapefruit is a native crop of Tan Lac district, where the fertile soil and favourable climate create ideal conditions for its growth. With over 80% of the area being mountainous, at an altitude of 300-400 metres above sea level, red grapefruits here thrive on well-drained, fertile hillside soil. The region’s large temperature variation between day and night enhances the fruit's nutrient absorption. The local cultivation techniques also contribute to its uniqueness

Business association pledges support for local firms

The provincial business association recently convened a conference to review its 2024 operations and outline plans for 2025. The meeting was attended by Standing Deputy Secretary of the provincial Party Committee and Chairman of the provincial People’s Committee Bui Duc Hinh along with leaders from various departments and agencies.

Hoa Binh focuses on rural transportation infrastructure development

Hoa Binh province is prioritising rural transportation infrastructure to improve mobility, facilitate trade, and boost socio-economic development.

Two products in Hoa Binh have been recognized as “National OCOP products”

The Minister of Agriculture and Rural Development has just issued Decision No. 377/QD-BNN-VPĐP approving the results of the evaluation and classification of the products of the National One Commune One Product Program in 2024 (phase 3).

Bustling Tet market

As the Lunar New Year (Tet) approaches, the market becomes more vibrant than ever. In Hoa Binh province, preparations for Tet have been bustling since the 20th of the last lunar month, with an abundant supply of goods to meet the growing consumer demand.