Timber ready to become country’s leading export

2010-05-25

Timber is expected to become one of Vietnam’s major export products needing proper measures to meet the targets - US$3 billion in 2010 The export turnover of the timber sector is expected to supersede its target and earn US$3 billion in 2010, says Nguyen Ton Quyen, General Secretary of the Vietnam Timber and Forestry Product Association (Vietfores). Wood businesses have received orders worth US$3 billion in 2010, up by US$320 million compared to 2009, says Quyen. According to the General Department of Vietnam Customs, revenues have reached over US$1.5 billion from the beginning of this year, a 35 percent increase from last year. The US, Japan, and the EU remain the biggest importers of Vietnamese wooden products. Quyen states that wooden products exported to the US will rise by 10 % compared to last year, while exports to traditional markets like Japan and the EU have seen signs of recovery. By the end of June, revenues were equal to total sales in 2009, says Quyen, adding that prices also went up by 3-5 percent. With wooden products fast becoming the country’s leading export, the timber industry is booming.

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