Vietnam wood exports to climb 8% in 2016
Vietnam Wood 2015 in Ho Chi Minh City
Vietnam's wood industry is expected to earn export revenues of US$7.7 billion this year, 8% higher than in 2015.
Exports of wood and forestry products from Vietnam will have the advantage of starting operations through the ASEAN Economic Community (AEC). Domestic enterprises have traded with ASEAN partners for many years; the AEC will create favourable conditions for them to further develop business in the future. The Trans Pacific Partnership (TPP) deal is also likely to create more opportunities for Vietnamese manufacturers to export their products to the EU and USA, which has a high demand for certified forestry products, according to Nguyen Ton Quyen, chairman of the Vietnam Wood and Forestry Products Association (Viforest).
In 2015, the value of wood and wood-based products exports reached $7.1 billion, 8% higher than 2014, according to the Ministry of Agriculture and Rural Development. The three largest export markets of Vietnamese wooden products are the U.S., Japan and China, accounting for 67% of the total export value.
Image: Panels & Furniture Asia
Source: Viet Nam News/ Edited by Panels & Furniture Asia