Vietnam Forest-Product Exports: 2021 Historical Snapshot

It is estimated that this year's forest product exports will increase to 14.5 billion U.S. dollars, an increase of 12% over 2020. This was announced by Deputy Minister of Agriculture and Rural Development Ha Cong Tuan in an interview with Lao Dong Pao. By 2025, exports may reach 20 billion U.S. dollars.

　　 In the next five years, Vietnam will strive to maintain forest coverage at 42%, expand the market, develop long-term trade partnerships, and promptly resolve mutually beneficial and win-win trade issues in accordance with international commitments.

　　 The minister mentioned that despite the new crown pneumonia epidemic, the timber industry still performed well this year. The value of forest products exported by Vietnam exceeded US$13.22 billion, an increase of 16.9% year-on-year and nearly 6% higher than the target. In terms of forestry exports, Vietnam ranks fifth in the world, second in Asia, and first in Southeast Asia.

　　 He pointed out that the United States, Japan, China, the European Union and South Korea are the top five importers of Vietnam’s timber. Last year, Vietnam’s timber exports exceeded US$11 billion, accounting for approximately 90% of Vietnam’s total forestry exports. There are more than 5,500 companies engaged in wood and forest product processing in Vietnam, creating millions of jobs.