Forestry sector enjoys 4.57 bln USD in 7-month trade surplus
The forestry industry gained a trade surplus of over 4.57 billion USD in the first seven months of this year, according to the Vietnam Administration of Forestry (VNFOREST) under the Ministry of Agriculture and Rural Development.
Hanoi (VNA) – Theforestry industry gained a trade surplus of over 4.57 billion USD in the firstseven months of this year, according to the VietnamAdministration of Forestry (VNFOREST) under the Ministry of Agriculture andRural Development.
The forestry exports in Julywere estimated at 893 million USD, bringing the total in the reviewed period to morethan 6 billion USD, nearly 5.66 billion USD of whichcame from the export of wood and timber products.
Export growth was seen fromthe two major markets – the United States and the European Union. The VoluntaryPartnership Agreement on Forest Law Enforcement, Governance and Trade(VPA/FLECT), in effect from June 1, is supporting cooperation between Vietnamand the EU in resolving illegal logging and trade, as well as promoting trade, thus paving the way for more Vietnam’s forestryexports to foreign markets.
The VNFOREST estimated Vietnamplanted over 126,000 hectares of forest in the first seven months, representing51 percent of the yearly goal and up 3 percent from the same period last year.
During the period, thecountry harvested about 125,000 hectares of forest for 11.5 million cu.m ofwood, a year-on-year increase of 5 percent.
From January to July, Vietnamcollected close to 1.3 trillion VND (55.9 million USD) in payment for forestecosystem services, up 11 percent year on year.
By July 28, over 1.97trillion VND has been allocated to pay 1,342 forest owners across the countryfor the services they provided.
Vietnam currently has 4,500enterprises processing and exporting wood and forest products, including 1,863exporters. They involved more than 700 foreign-invested businesses with a large-scaleproduction and application of technology for production.
For 2019, the forestrysector has set targets of growth rate at 5.5 – 6 percent in productionvalue and export value at 10.5 billion USD. –VNA
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Forestry sector enjoys 4.57 bln USD in 7-month trade surplus. (Photo: VNA)
