Vietnam is Asia’s timber processing hub: trade association

Tuesday, 2018-03-27 17:03:22
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Vietnamese forestry exports hit US$8 billion in 2017.
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NDO - Vietnam has outstripped its regional competitors to become the timber processing centre of Asia, according to the Vietnam Timber and Forest Product Association (Vifores).

The statement was made at a workshop on the industry, held in Hanoi, on March 27.

In 2017, Vietnamese forestry exports hit US$8 billion, with timber and timber products accounting for nearly US$7.7 billion, while the rest came from non-timber products such as bamboo and rattan.

With such revenue, the timber industry is now Vietnam’s sixth largest export earner and has met the US$8 billion goal three years ahead of schedule.

The largest markets for Vietnamese timber products are the United States, Japan, the Republic of Korea, China and the European Union.

Vietnam’s timber exports to the world’s largest economy alone reached US$3 billion in 2017.

Vifores General Secretary Nguyen Ton Quyen has projected that Vietnamese timber exports will bring in US$9 billion this year.