Wood exports to hit record of 18 billion USD this year

The export turnover of wood and wood products is expected to set a record high of 18 billion USD in 2023, with wood pellets and woodchips forecast to enter the one-billion USD club.

President of the Vietnam Timber & Forest Products Association (Viforest) Do Xuan Lap said that the figure will represent a growth rate of 7-9%.

Export turnover of wood and wood products forecast to set record high of 18 billion USD in 2023.

To that end, the industry will focus on raising the competitiveness of enterprises by reducing the use of imported wood, applying science and technology in improving labour productivity, and stepping up digital transformation to cut production costs.

In fact, in the fourth quarter of 2022, the number of orders decreased, and the gloomy atmosphere may linger on until the end of the first quarter of 2023. However, most of businesses believe that the situation may begin brightening from the second quarter.

Pellets and woodchips are also hoped to be a motivation for the development of the sector this year.

Nguyen Thanh Phong, head of the wood pellet branch under the Viforest, said that Vietnam earned over 700 million USD from exporting nearly 4.7 million tonnes of pellets last year, up 35% in volume and 81% in value year-on-year,

Currently, Vietnam is the world’s second biggest exporter of wood pellets, and the export value of this product is predicted to surpass 1 billion USD this year.

Eight commodities with export value of over 10 bln USD

Electronics, computers and components, mobile phones and spare parts were among the commodities with export value of over 10 bln USD in 2021.

 

Agriculture exports reach new peak in 2022

Vietnam’s agriculture, forestry and fishery sector saw the value of exports climb 9.3% from 2021 to $53.22 billion for the year, reaching a new peak.

 

Vietnamese exporters ready for Chinese market’s reopening

Vietnamese businesses, especially those operating in the agricultural sector, have made all necessary preparations and are ready for the reopening of the Chinese market from January 8.

 

Textile-garment targets up to $48 billion in 2023 export turnover

Textile and garment exports may reach $47-48 billion in the positive scenario for 2023 and $45-46 billion in the lower-case scenario, said the Vietnam Textile and Apparel Association (VITAS).

 

Thriving wood pellet production for export

(BGO) – The Russia – Ukraine conflict causes high demand for wood pellet as the production material and heating fuel, helping boost up the consumption and production of wood processing products from planted forest in Vietnam and Bac Giang.

 

Source: VNA