Export revenue of forestry products soars 41% in first quarter

ABO/NDO – Total export revenue related to wood and forestry products reached US$3.944 billion in the first quarter of 2021, a sharp increase of 41.5% over the same period in 2020, according to the Vietnam Administration of Forestry under the Ministry of Agriculture and Rural Development.

Of the total, the export revenue of wood and wood products stood at US$3.699 billion, up 41.5% while the export revenue of other forestry products reached US$243 million, up 38.4% over the same period last year.

Vietnam’s main export markets such as the US, Japan, China, the Republic of Korea and the EU, which account for 90% of Vietnam’s forestry export value, all reported high export growth rates in the first quarter of this year.

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In the meantime, the import revenue from wood and wood products in the first three months of this year was estimated at US$696 million, up 31% over the same period last year.

The rise in the import value of wood and wood products was due to the increasing prices of raw materials and increasing import demand during the first months of the year.

Thus, the forestry industry has posted a trade surplus of US$3.248 billion in the first quarter of 2021, up 43.4% over the same period last year.

The Ministry of Agriculture and Rural Development has asked the forestry sector to implement the “dual goals” of preventing the COVID-19 pandemic and promoting the export of forestry products to achieve total export revenue of over US$14.5 billion for the entirety of 2021.

(Source: NDO)