Forest environmental services play a significant role in national economic development in general and the forestry sector’s development in particular, the Government News has reported.

“Forest environmental services are essential resources contributing to the development of the national economy and the forestry sector,” said Deputy Minister of Agriculture and Rural Development Nguyen Quoc Tri. “Vietnam earned VND3.7 trillion ($153 million) in 2022 and nearly VND3.1 trillion ($128 million) in the January-November period of 2023 from such services.”

Exporting wooden products and non-wood forest products has seen rapid growth in recent years.

Wood and forestry exports in 2021 brought about $15.96 billion to the country, with a trade surplus of $13.03 billion. In 2022, value reached $17.09 billion, with a surplus of $14.07 billion. In the first eleven months of 2023, exports reached approximately $12.97 billion, with a surplus of $10.98 billion.

Vietnam ranks fifth in the world, second in Asia, and first in Southeast Asia in terms of exporting forest products. Its wooden products can be found in over 140 countries and territories. Domestic raw material supply can meet over 70 per cent of demand for the wood processing industry and forest product exports.

Its total forest coverage is 14.79 million ha, or 42.02 per cent of the country. According to a report on global forest resources from the United Nations Food and Agriculture Organization (FAO), Vietnam is one of ten countries posting the highest increase in forestry coverage and with the largest cultivated forest areas.