The wood industry of Vietnam is booming with the export reaching a new height of USD $16billion. A report by Furniture Design Technology (FDT).
Noting a surge of almost 20% from the previous year’s figures, the data was revealed by Bui Chinh Nghia, Deputy General Director, Vietnam Administration of Forestry (VNFOREST) under the Ministry of Agriculture and Rural Development, during a recently held conference.
The figures are crucial as they have even surpassed year 2020’s record sales which was USD $12.6 billion. Additionally, revenues from forest environmental services stood at more than VND3 trillion, exceeding 11% of this year’s target and up 21% compared to the same period from last year.
There has been a significant increase in the rate of forest cover as well which is recorder at 42.02% which is an increase of approx. 3,300 hectare as compared to 2020. Wood remained among the top 10 key export items for the country making Vietnam ranked first in ASEAN, second in Asia and fifth in te world for Forestry exports.