Vietnam's export of timber and wood products exceeds US$9 billion

The export of timber and wood products has exceeded the US$9 billion mark for the first time during the first 11 months of the year, according statistics released by the General Department of Vietnam Customs.

Vietnam's export of timber and wood products exceeds US$9 billion


November alone saw the export of timber and wood products reach over US$958 million.

Moreover, the export of timber wood and wood products enjoyed a surge of 18.1 per cent during the review period to more than US$9.526 billion against the same period last year.

Most notably, wood exports hit approximately US$7 billion, up 22.2 per cent on year.

 

After recording these impressive figures, the export of timber and wood products has surpassed US$9 billion for the first time and beaten the record figure of US$ 8.907 billion which was recorded in 2018.

With export value reaching over US$900 million per month, the export of wood and wood products are expected to surpass the US$10 billion mark by the end of 2019 for the very first time.  

Vietnam boosts fight against illegal timber products

Vietnam boosts fight against illegal timber products

Accountability will be key for all importers and all wood products. 

VN woodwork exports face new regulation on customs inspection

VN woodwork exports face new regulation on customs inspection

The new regulation on certificate of origin (C/O) makes it more for Vietnam to obtain $11 billion in woodwork exports this year as planned.

 
 

Other News

.
Aviation industry awaits new bigger bailout
Aviation industry awaits new bigger bailout
FEATUREicon  25/11/2020 

Private airlines including Vietjet Air and Bamboo Airways struggling to survive are looking forward for a new support package to maintain their operations.

Black Friday: World under Covid-19 bans, but Vietnamese excited
Black Friday: World under Covid-19 bans, but Vietnamese excited
BUSINESSicon  24/11/2020 

Around the world, Black Friday this year may be very dim because of Covid-19 pandemic. But in Vietnam, people are enjoying the safety of a "new normal", squeezing together to buy discounted goods at shopping malls.

Vietnamese industrial market update – Rise of coastal industrial zones
Vietnamese industrial market update – Rise of coastal industrial zones
BUSINESSicon  24/11/2020 

The demand for industrial property at coastal regions is high, but the supply of industrial land ready to hand over in industrial zones in both regions was scarce.

FDI possible in digital cross-border services
FDI possible in digital cross-border services
BUSINESSicon  24/11/2020 

With regional nations racing to lower their taxes in order to woo more investment, which may dent their coffers, creating feasible policies for collecting taxes is expected to help reach their goals of attracting more high-quality funding.

RCEP will not worsen trade deficit: ministry
RCEP will not worsen trade deficit: ministry
BUSINESSicon  24/11/2020 

The Regional Comprehensive Economic Partnership (RCEP) would not worsen the trade deficit Vietnam was running with signatory markets, according to the Ministry of Industry and Trade.

HCM City hopes to attract investment by allotting more lands in IPs, EPZs for infrastructure
HCM City hopes to attract investment by allotting more lands in IPs, EPZs for infrastructure
BUSINESSicon  24/11/2020 

HCM City authorities plan to offer competitive land rents and other incentives at industrial parks (IPs) and export processing zones (EPZs), and earmark more lands for building infrastructure to attract investment.

HCM City seeks ideas for underground space planning through international competitions
HCM City seeks ideas for underground space planning through international competitions
BUSINESSicon  24/11/2020 

The HCM City Department of Planning and Architecture has reported to the city People’s Committee on underground space planning and underground space management regulations.

RCEP will not make the trade deficit with China worse: MOIT
RCEP will not make the trade deficit with China worse: MOIT
FEATUREicon  24/11/2020 

Worries have been raised that RCEP will lead to a higher trade deficit with partners, especially China. But the Ministry of Industry and Trade (MOIT) doesn’t think so.

Preliminary decision on tyre exports flusters the market
Preliminary decision on tyre exports flusters the market
BUSINESSicon  24/11/2020 

The global demand for rubber and tyre products has been consistently increasing throughout the last decade, with Vietnam being one of the top suppliers of these items.

17th CAEXPO to benefit China-Vietnam cooperation
17th CAEXPO to benefit China-Vietnam cooperation
BUSINESSicon  23/11/2020 

China and Vietnam are friendly neighbors connected by mountains and rivers, and have achieved fruitful results in the sustained economic and trade cooperation. 

More M&A deals in the banking sector next year: local media
More M&A deals in the banking sector next year: local media
BUSINESSicon  23/11/2020 

Vietnam’s equity market may witness big merger and acquisition (M&A) deals in 2021 as local banks are trying to lure foreign capital on the country’s participation in international trade deals.

Office rental rates to fall by end of year: experts
Office rental rates to fall by end of year: experts
BUSINESSicon  23/11/2020 

Office rental rates will continue to drop while supply will be in the non-central business district areas in HCM City in the coming time, according to property research companies.

Foreigners who choose Vietnam as their second home
Foreigners who choose Vietnam as their second home
FEATUREicon  25/11/2020 

While many Vietnamese find their way to developed countries to make a living, many European and American businesspeople consider Vietnam, particularly Da Lat, a good land. 

'Ghost' restaurants flourish in Ho Chi Minh City
'Ghost' restaurants flourish in Ho Chi Minh City
BUSINESSicon  23/11/2020 

Without tables, chairs or waiters, "ghost" restaurants are flourishing in Vietnam, serving only online customers.

When private businesses get stronger
When private businesses get stronger
FEATUREicon  23/11/2020 

The private sector is very active in key sectors of the economy. If there is a "push", they will become an important force with other economic sectors to take the country forward.

Coastal industrial zones attractive to investors
Coastal industrial zones attractive to investors
BUSINESSicon  23/11/2020 

Vietnam’s industrial zones property located near the sea is attracting great attention to investors as they maintain high occupancy rates and rental prices, heard attendants at a conference held in Hanoi on Thursday.

Smarter logistics will benefit Vietnam: experts
Smarter logistics will benefit Vietnam: experts
BUSINESSicon  23/11/2020 

Smarter logistics are key for Vietnam to advance in the global value chain amid the fourth industrial revolution and the COVID-19 pandemic, experts told the Vietnam Business Summit 2020 held in Hanoi recently.

HCMC real estate market poised to recover next year
HCMC real estate market poised to recover next year
BUSINESSicon  23/11/2020 

The real estate market in HCMC has seen signs of recovery since August and is expected to see a strong rebound during the upcoming traditional Lunar New Year holiday and next year, according to the HCMC Real Estate Association (HoREA).

Vietnamese firms to invest in three key aspects for digital transformation
Vietnamese firms to invest in three key aspects for digital transformation
BUSINESSicon  23/11/2020 

Many companies in Vietnam are considering an approach to workplace digital optimization beyond Covid-19.

Louis Vuitton, Christian Dior join Hanoi luxury market
Louis Vuitton, Christian Dior join Hanoi luxury market
BUSINESSicon  23/11/2020 

Leasing flagship stores of Louis Vuitton and Christian Dior show stronger sentiment towards luxury brands in Vietnam.

 
 
 
Leave your comment on an article

OR QUICK LOGIN