According to the Vietnam Administration of Forestry, the export revenue of forestry products hit over US$5.3 billion in the first six months of 2020, up 2.7 percent over the same period last year.
The administration predicts that the total exports of these products will reach between US$11.75 billion to US$12 billion this year. In the first six months, Vietnam saw an 8.8% year-on-year decline in the import of wood and wood products, bringing the value to US$1.12 billion. During this same period, 106,300 hectares of forest were planted, fulfilling 48.3% of the yearly target of 220,000 hectares.
According to Ha Cong Tuan, Deputy Minister of Agriculture and Rural Development, forestry exports will be no lower than US$12 billion this year. He said that forestry has contributed most to the agriculture and rural development sector in the first half of the year, and asked the forestry sector to focus on addressing issues such as anti-dumping lawsuits and product origin fraud, as well as to coordinate with ministries and agencies in handling trade disputes.