According to the Ministry of Agriculture and Rural Development’s Forestry Administration recently, in October 2018, Vietnam’s exports of major forest products amounted to approximately US$7.612 billion, accounting for 84% of the full-year plan, an increase of 16.12% over 2017, accounting for total agricultural exports. 23.37%. Among them, the export value of wood and wood products reached 7.23 billion US dollars.
Therefore, in the first 10 months of this year, Vietnam’s forestry trade surplus reached US$5.72 billion. The main export markets for timber and wood products in Vietnam are the United States, Japan, China, South Korea and the European Union, accounting for 87% of the export value.
Europe is Vietnam's fourth largest market for wood products, accounting for more than 10% of Vietnam's wood products export market. Currently, more than 400 companies in Vietnam export timber and wood products to the European market.
In the first nine months of 2018, the trade surplus of Vietnam's major forest products reached US$5.08 billion, of which the trade surplus of timber and wood products reached US$4.74 billion. In the first nine months, Vietnam’s exports of major forest products reached US$6.757 billion (equivalent to 75.07% of the annual plan), an increase of 15.91% year-on-year, accounting for 23.17% of total forestry exports.
The Vietnamese timber and wood products manufacturing industry is striving to achieve a target of US$9 billion in exports in 2018.