Vietnam wood export forecast at $4Bln in 2011

Vietnam wood export is forecast to reach $4 billion in 2011, up 17% from 2010 and likely to increase to between $8-9 billion in 2015

Vietnam wood export is forecast to reach $4 billion in 2011, up 17% from 2010 and likely to increase to between $8-9 billion in 2015, the online newspaper VnEconomy reported on February 9, citing the Vietnam Wood and Forest Products Processing Association (VIFOREST).

Nguyen Ton Quyen, General Secretary of VIFOREST, confidently said that many local firms have received orders until September 2011.

The sector enjoys some advantages as it totals around 2,500 domestic enterprises processing wood products for domestic consumption and 400 foreign direct investment companies contributing roughly 50% of total wood export turnover.

Vietnam wood products are exported to 120 countries in the world. Major markets includes the US (38%), EU (44%) and Japan (12%).

In 2010, the staple contributed $3.4 billion to the country’s export turnover, sharply increasing 31% from 2009. – Stoxplus.com

Tags: Vietnam wood exports

Posted by VBN on Feb 10 2011. Filed under Import-Export, Import-Export turnover. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry