Decreasing overseas demand affects export of forestry products
A wood product factory in Vietnam
The export value of forestry products in July dropped by 5.5% from the previous month to 1.41 billion USD, also down 1.6% from the same period last year, according to the Forestry Department under the Ministry of Agriculture and Rural Development.The figure for the seven-month period from January to July was estimated at 10.42 billion USD, up 1.3% year on year.
Timber and wood products earned 9.72 billion USD, up 1.2%, while other forestry products brought home 0.7 billion USD, a 2.6% increase.
Main markets for Vietnamese forestry products are the US, Japan, China, the EU and the Republic of Korea, which together bought 9.38 billion USD worth of products, or 90% of the total export value.
A 4.9% year-on-year reduction in the US market was to be blamed for the decrease in the total forestry export value this year, even though shipments to the other four major markets continued to post growth.
Do Xuan Lap, Chairman of the Vietnam Timber & Forest Products Association (VIFORES), said demand for non-essential goods in big markets like the US, EU and UK has been dropping strongly, adversely affecting the business of enterprises in the wood and forestry sector./.
Related News
To maintain its billion-dollar export position, forestry and fisheries enterprises propose additional credit limits
06:15 | 28/04/2024 Import-Export
Agro-forestry-fisheries sector posts 22.5% rise in nine-month trade surplus
15:27 | 29/09/2023 Import-Export
Agro-forestry-aquatic product exports likely to post positive growth from Q4
20:26 | 02/07/2023 Import-Export
PM chairs conference on ways to tackle difficulties in forestry-fishery exports
15:31 | 13/04/2023 Headlines
Latest News
Developing a strong brand contributes to increased export revenue
07:49 | 29/04/2024 Import-Export
Export turnover reaches over US$200 billion in the first half of April
15:04 | 28/04/2024 Import-Export
Experts call for efforts in protecting IP rights
15:02 | 28/04/2024 Import-Export
Policies needed to encourage e-commerce to embrace circular economy
15:00 | 28/04/2024 Import-Export
More News
Efforts to supply US $ one billion of raw materials and cosmetics to replace imported goods
06:14 | 28/04/2024 Import-Export
Ample room for Quang Ninh to attract FDI
19:47 | 27/04/2024 Import-Export
Vietnam’s rice exports may exceed 2024 target
19:46 | 27/04/2024 Import-Export
Opportunity for exporting to Thailand market
14:48 | 27/04/2024 Import-Export
Enterprises want clearer regulations on seafood production
14:05 | 26/04/2024 Import-Export
Vietnam ranks fifth among aquatic product suppliers for Singapore
13:53 | 26/04/2024 Import-Export
Forum seeks to increase PPP investment effectiveness
13:48 | 25/04/2024 Import-Export
Linking businesses with cooperatives to increase the value chain
09:42 | 25/04/2024 Import-Export
Vietnam has a trade deficit of over US$17 billion with China
15:34 | 24/04/2024 Import-Export
Your care
Developing a strong brand contributes to increased export revenue
07:49 | 29/04/2024 Import-Export
Export turnover reaches over US$200 billion in the first half of April
15:04 | 28/04/2024 Import-Export
Experts call for efforts in protecting IP rights
15:02 | 28/04/2024 Import-Export
Policies needed to encourage e-commerce to embrace circular economy
15:00 | 28/04/2024 Import-Export
To maintain its billion-dollar export position, forestry and fisheries enterprises propose additional credit limits
06:15 | 28/04/2024 Import-Export