US, China 'spend big' to increase purchases of Vietnamese wood

According to the Forestry Department (Ministry of Agriculture and Rural Development), the value of forestry product exports in the first six months of the year is estimated at 7.95 billion USD, an increase of 21.2% compared to the same period in 2023, reaching 52.3% of the plan.

Exports to some key markets increased sharply, such as: the US, reaching $4.38 billion, up 27.6%; and China, reaching over $1 billion, up 46.6%.

The value of forestry product exports in the first six months of the year is estimated at 7.95 billion USD, an increase of 21.2% compared to the same period in 2023, reaching 52.3% of the plan.

The trade surplus in the first six months of the year is estimated at nearly $6.7 billion, an increase of 21.6%. The largest export surplus product was wood and wood products ($6.16 billion, an increase of 22.5%).

Conversely, a representative from the Forestry Department stated that the value of imported wood and wood products in the first six months of the year is estimated at $1.29 billion, an increase of 19% compared to the same period in 2023.

According to the Import-Export Department ( Ministry of Industry and Trade ), since the beginning of the year, exports of wood and wood products to the US market have grown strongly, indicating a rapid recovery in demand in this market.

Exports of wood and wood products to the US have recorded positive growth rates. Wooden furniture, in particular, is a major export item to the US and also a high value-added product for the wood industry.

In the second half of the year, the forestry sector has determined that it will continue to organize and implement tasks and solutions for the sustainable development of the wood processing and export forestry product industry; coordinate in preventing trade fraud; closely monitor and develop operational scenarios for import and export to ensure the achievement of the annual plan targets.

In addition, it is necessary to strengthen the quality management of forestry plant varieties, focusing on the selection and breeding of high-tech forestry plant varieties, native species, and intensive forest management suitable to the ecosystem to improve the productivity and yield of planted forests, and develop planted forests for large-scale timber production.

Developing forms of linkage, cooperation, and benefit sharing within the forestry production and business chain...

Source: https://thanhnien.vn/my-trung-quoc-chi-dam-tang-mua-go-viet-185240703173546801.htm