29.03.2021, 20:51

Forest product exports post trade surplus of US$3.23 billion in Q1

According to a report on the results of afforestation and the export turnover of wood and forest products in the first three months of this year sent to the press by the Vietnam Administration of Forestry (VNFOREST) on March 29, Vietnamese wood products continued to see a trade surplus right from the first months of the year, with over US$3 billion.
According to the report by the VNFOREST under the Ministry of Agriculture and Rural Development, in March, the export value of timber and forest products of enterprises across the country was estimated at above $1.52 billion.

Accordingly, the cumulative export turnover in the first three months of the year was estimated at more than $3.94 billion, an increase of 41.5 percent year-on-year. Of which, exports of wood and wooden products nearly touched $3.7 billion, up 41.5 percent, and exports of non-timber forest products reached $243 million, up 38.4 percent.

Major export markets for timber and forest products include the US, Japan, China, the EU, and South Korea, accounting for 90 percent of the total export value of timber and forest products.

Besides, as for import, currently, Vietnamese enterprises have been importing wood and forest products from China, the US, Cameroon, Thailand, and Chile, accounting for about 55 percent of the total value of imported wood and forest products in the past three months.
The import value of wood and wooden products in March this year was estimated at $227 million. Accordingly, the cumulative imports of wood and wooden products in the past three months were estimated at $696 million, up 31 percent over the same period last year.

‘The import value of wood and wooden products increased as above because the price of raw material wood in the first months of the year escalated. At the same time, the import demand also climbed over the same period last year,’ the report of the VNFOREST stated.

Generally, in the past three months, Vietnam's forest products and wooden products saw a trade surplus of $3.23 billion, an increase of 43.4 percent.

By Van Phuc – Translated by Gia Bao