Wood and forestry exports plunge in second quarter
The export value of the wood processing and forestry sector was 2.18 billion USD in the second quarter of 2020, dropping 11.3 percent against the first quarter and 20 percent against the same period last year.
Hanoi (VNA) – The export value of the wood processingand forestry sector was 2.18 billion USD in the second quarter of 2020,dropping 11.3 percent against the first quarter and 20 percent against the sameperiod last year.
According to the Vietnam Administration of Forestry (VAF),the revenue gained from the sector’s biggest importer – the US – reached 1.03billion USD, down 18 percent year-on-year and 33.4 percent quarter-on-quarter.
Its exports to other key markets, namely China, Japan, andthe Republic of Korea, recorded a annualrise ranging between 5 and 20 percent.
In the first half of 2020, the sector’s export earnings hit11.75 billion USD in total, up 3.9 percent from 2019.
Vietnamese wood and forestry products have been shipped toover 120 countries and territories worldwide. The country ranks first in ASEAN,second in Asia and fifth in the world for wood exports./.
Many wood processing firms have managed to operate despite the COVID-19 pandemic and many have even chalked out measures to take advantage of the opportunities on offer when the pandemic is over.
Minister of Agriculture and Rural Development Nguyen Xuan Cuong has said that Vietnam is focusing on four measures to bolster wood and wooden product export growth this year.
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Illustrative photo (Source: VNA) 
