The volatility and unpredictability in global markets may have caused challenges for many industries, including woodworking, but offered opportunities to agile businesses, according to experts.
Experts believe Viet Nam this year will reach its export target for timber and wooden products at US$12 billion, despite the impact of the COVID-19 pandemic.
Vietnamese wood processing firms have reduced production or suspended operations as most of the major importing countries for their products face hardships because of the COVID-19 pandemic.
Viet Nam this year expects to gain a total export value of US$12.5 billion from timber, wooden products and forest products, up 10 per cent year on year.
Viet Nam’s wood and forest product export turnover in the first seven months of 2019 has been estimated at more than US$6 billion, a year-on-year increase of 17 per cent.
Export turnover of wood and wooden products reached nearly US$3.12 billion in the first four months of the year, a year-on-year increase of 18.3 per cent,.
Bình Dương and Đồng Nai provinces, which have the highest export growth rate and number of businesses in the wooden products sector, are poised to take advantage of the benefits of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP).
Viet Nam earned US$4.15 billion from exports of wood and wooden products in the first six months of this year, marking an increase of 8.4 per cent compared with the same period last year.
The EU-Vietnam Free Trade Agreement (EVFTA) is expected to a breakthrough for timber and wooden products. Experts forecast about US$1 billion worth of timber to be exported to the EU annually by 2020, according to an official of the Vietnam Timber...
Viet Nam is likely to reach total export turnover of US$200 billion for 2017, increasing more than 13 per cent from last year and exceeding the set target, deputy minister of Industry and Trade Do Thang Hai claimed at a...
Once the EU-Viet Nam Voluntary Partnership Agreement on Forest Law Enforcement, Governance and Trade (VPA-FLEGT) comes into force, there will be opportunities for Viet Nam to export more wooden products to Europe and other markets.
Viet Nam’s exports of wood and wooden products in the first quarter of this year hit US$1.78 billion, a year-on-year increase of 17.1 per cent, the General Department of Viet Nam Customs reported.
Once the Voluntary Partnership Agreement on Forest Law Enforcement, Governance and Trade (VPA/FLEGT) comes into force, there will be opportunities for Viet Nam to export more wooden products to Europe and other new markets as well as get higher prices,...