Vietnam’s export revenue of timber and wood products reached $7.95 billion in the first half of the year, up 21.2% year-on-year, according to the Ministry of Agriculture and Rural Development.

Meanwhile, the country imported timber and wood products worth $1.29 billion during the period, a year-on-year rise of 19%.

This resulted in a trade surplus of over $6.6 billion.

Exports to key markets saw a significant growth in value, including the US ($4.38 billion, up 27.6% year-on-year) and China ($1.05 billion, 46%).

The US remained the largest export market, accounting for 55% of the total.

Vietnam surpassed Thailand to become the third largest exporter of wood furniture to China.

In the first six months of the year, Vietnam planted 125,500 ha of forest, up 1.2% year-on-year.

The country targets to grow 245,000 ha of forest for 2024.