Vietnam's wood export up 11.4 pct in 10 months

HANOI, Nov. 7 (Xinhua) -- Vietnam exported nearly 13.5 billion U.S. dollars worth of wood and wood products in the first 10 months of this year, up 11.4 percent year on year, according to the country's General Statistics Office on Monday.

Photo taken on Nov. 29, 2020 shows a wood carving product from Vietnam during the 17th China-ASEAN Expo in Nanning, south China's Guangxi Zhuang Autonomous Region. (Photo: Xinhua)

In October alone, the country raked in about 1.2 billion dollars from exporting wood and wood products, posting a 25.9-percent year-on-year increase.

Vietnam targets to become the world's leading wood processing hub for export. Its wood export turnover is forecast to reach 25 billion dollars by 2030, according to the administration.

However, the wood sector is facing difficulties as the inflation in many major countries may make consumers tighten their spending and wood orders in key markets decline, said Bui Chinh Nghia, deputy director general of the Vietnam Administration of Forestry.

In 2021, Vietnam reaped over 14.8 billion dollars from exporting wood and wood products, which increased 19.7 percent year on year and accounted for 4.4 percent of the country's total export revenue, with China, Japan, and the United States among the major markets.

Between January and October this year, Vietnam also spent more than 2.6 billion dollars importing wood and wood products, up 5.9 percent year on year.