Forestry exports set a record of $17.3 billion

Wood kitchenware for export.— VNA/VNS Photo

Wood products alone are estimated to contribute $1.1 billion, representing an increase of 7.5 per cent compared to November and 15.5 per cent year-on-year.

Including non-wood products, the total export turnover for forestry products is estimated at $1.68 billion.

For the entire year, Việt Nam's forestry export turnover is estimated to reach a record of $17.3 billion, marking a 19.4 per cent growth year-on-year. Of this, timber and wood products contributed $16.3 billion, while non-wood forestry products made up the remainder.

"Export turnover for timber and wood products in 2024 increased by 21 per cent compared to 2023", said Director of the Forestry Department, Trần Quang Bảo.

The forestry sector's trade surplus is expected to reach an impressive $14.4 billion.

Wooden frame chairs led the export categories. By the end of November 2024, they generated $3.1 billion, reflecting a 24 per cent increase year-on-year.

Other notable categories exceeding $1 billion in export value included living and dining room furniture, wood chips, bedroom furniture, wood panels and flooring and kitchen furniture.

The US remained Việt Nam's largest market for timber and wood product exports, accounting for over 55 per cent of the total export turnover.

The Forestry Department attributed the positive growth to strong demand and reduced inventory levels in the US market.

Bảo highlighted significant achievements in forest development, harvesting, processing and export.

The total area of newly planted forests in 2024 is estimated to exceed 270,000 hectares, a 2.4 per cent increase year-on-year. About 97 million scattered forestry trees were planted, up 3.4 per cent year-on-year.

Wood harvesting output reached 22.7 million cubic metres, a 7.9 per cent increase year-on-year.

In 2024, the Forestry Department enhanced the quality management of forestry plant varieties. Thanks to that, the rate of forestry tree varieties whose origin and quality are controlled for planting reached 85 to 90 per cent.

Building on these achievements, the forestry sector aims for a production growth rate of up to five per cent in 2025. Export turnover for forestry products is projected to reach $18 billion next year.