Vietnam gained 1.55 billion USD from the export of timber and wood products in December, up 6% compared to the previous month and 15.8% year-on-year, according to the Forestry Department under the Ministry of Agriculture and Rural Development.

The export value of timber and wood products hit 7.95 billion USD in the first half of 2024, up 21.2% year-on-year, and representing 52.3% of the plan set for the year, the Forestry Department under the Ministry of Agriculture and Rural Development has reported.

Vietnam’s forestry sector enjoyed a trade surplus of 5.72 billion USD in the first 10 months of 2018, according to the Vietnam Administration of Forestry (VNForest) under the Ministry of Agriculture and Rural Development.

With large shipments in the first eight months, Vietnam’s forestry sector expects to fulfill this year’s export target of 9 billion USD a month ahead of schedule.

The European Union (EU), which makes up about one fourth of the world consumption, is now the fourth largest importer of Vietnam’s timber and wood products after US, Japan and China.