Forestry exports rise by 16 percent in 2018

10:31 | 27/12/2018 Trade

Vietnam earns more than US$9.3 billion from the export of forestry products in 2018, up 15.9% from last year, according to the Vietnam Administration of Forestry (VNFOREST).

Vietnam earns over US$9.3 billion from the export of forestry products in 2018

The revenue accounts for over 23% of the total agricultural exports this year, the VNFOREST said at a meeting on December 24, adding that the five biggest markets of the US, Japan, the EU, China and the Republic of Korea are the destinations of 87.33% of the country’s forestry shipments.

Noting the fulfilment of all the set targets, the VNFOREST said the forestry sector recorded a 6.12% increase in its production value.

VNFOREST Deputy Director General Pham Van Dien said for 2019, the sector targets a growth rate of 5.5-6% in the forestry production value, and over US$10.5 billion in wood and forestry product exports.

It vows to protect and sustainably develop all the existing forests to raise the nationwide coverage to 41.85%.

At the meeting, Minister of Agriculture and Rural Development Nguyen Xuan Cuong said the forestry sector needs to concertedly and drastically implement the Law on Forestry and the Forest Law Enforcement, Governance and Trade Voluntary Partnership Agreement (FLEGT-VPA), which Vietnam recently signed with the EU.

He said the FLEGT-VPA will be a turning point of the sector, stressing that the enforcement of this agreement and the Forestry Law will create a foundation for developing a sustainable forestry economy.

Statistics from the VNFOREST also showed that Vietnam now has 235,000 ha of forest accredited by the Forest Stewardship Council (FSC) for sustainable management. The Ministry of Agriculture and Rural Development’s programme on sustainable forest development and certification aims to push the figure to 500,000 ha by 2020.