Topic: forestry

Under the plan, wood exports expected to reach $20 bln by 2025

Seafood, rice, and coffee expected to be among the sector’s key export items this year.

Export value estimated at $5.14 billion in opening month of the year.

Bilateral cooperation focusing on digital transformation and application of high-tech.

The US, Japan, China, the EU, and the Republic of Korea were Vietnam’s main markets for forestry exports in 2022.

The Ministry of Agriculture and Rural Development (MARD) has reported that total trade turnover in agricultural, forestry, and fishery products reached $82.1 billion in the first ten months of 2022, up 10.2 per cent year-on-year. Exports stood at $44.9 billion, up 14.1 per cent, and imports $37.2 billion, up 5.8 per cent. From October 20-27 an inspection team from the European Commission (EC) visited Vietnam and worked with steering committees in many cities and provinces and other agencies on efforts to combat illegal, unreported, and unregulated (IUU) fishing. However, the EC is still to remove the “yellow card” it imposed on Vietnamese seafood.

Ministry of Agriculture and Rural Development's figures put total export turnover of agriculture, forestry, and fisheries products at $40.79 billion in the first nine months of 2022, up 15.2 per cent year-on-year. Growth in agriculture in 2022 is forecast at 2.8-3 per cent; higher than the government’s target of 2.5-2.8 per cent. Total export turnover of about $55 billion is expected, or $5 billion more than the government target.

Vietnam’s agricultural, forestry and fisheries exports reached $36.3 billion in the first eight months of 2022, up 13.1 per cent over the same period of 2021 thanks to the efforts of the Ministry of Agriculture and Rural Development. If such growth can be maintained over the remainder of the year, the target of $55 billion in agricultural, forestry and fisheries exports this year is entirely feasible.