Exports of wood and wood products hit $12.75 bln in 9M

Exports of wood and wood products in the first nine months of the year earned $12.15 billion, a year-on-year increase of 17.2%, according to the Ministry of Agriculture and Rural Development.

Of which, export of wood reached $7.84 billion, up 20.7% compared to the same period last year.

Most of key export markets recorded growth during the nine-month period, including the US with an export value of $5.9 billion, accounting for 54.4% and surging 24.7% year-on-year; China $1.3 billion, 20%; and the EU $630 million, 20%.

Forecasting about wood production and export in the fourth quarter, Mr. Trieu Van Luc, Deputy Head of the ministry’s Forestry Department, said the production and export would face many difficulties as a result of the recent Typhoon Yagi.

The typhoon destroyed nearly 170,000 ha of forests in 13 northern localities. Many production facilities were damaged and will take time to repair and resume production, according to Mr. Luc.

Meanwhile, the global situation is predicted to continue being complicated and the increasing marine transportation costs have resulted in higher prices of wood material imports, leading to higher production costs, he remarked.