Vietnam’s exports and imports continue to grow
Vietnam exported wood and wood products valued at US$995 million in October 2019, bringing the total export value in the first ten months of 2019 to US$ 8.52 billion, up by 17.8% compared with the same period in 2018, reported ITTO.
Combined, the US, China, Japan and the Republic of Korea accounted for 80.6% of the total export value in the first ten months of 2019. Viet Nam’s exports of wood and wood products to the US grew by 11.5% over the period, to US$ 2.09 billion.
Vietnam imported more than US$2 billion of wood and wood products in the first 9 months of 2019. China is the single biggest supplier, accounting for 22.9% of the total value (US$430 million), up by 41.4% compared with the same period in 2018.
The second-largest supplier was the US, with a total import value of US$258 million, up by 12.4% compared with the same period in 2018.
There was also a marked increase of imports from the Russian Federation from a relatively low base.