Woodwork Exports up over 25 per cent in 7 Months

Woodwork products export is estimated to have brought in US$1.33 billion to Vietnam in the first seven months of 2007, up 25.3 per cent on year, the General Statistics Office said.

 

However, the country had to spend US$574 million importing timbers and timber additives for production because local timber supply is able to meet only 20 per cent of demand.

 

The figures showed that materials occupy 43 per cent of Vietnam’s revenue from woodwork products export.

 

In 2006, Vietnam imported around US$716 million worth of timber materials, 2.7 times higher than in 2003. Total spending on timber import is forecast to reach nearly US$1 billion this year.

 

Vietnam expects it will earn around US$2.5 billion from wood products export this year and US$5.56 billion in 2010, with the US, EU and Japan being the biggest importers.

 

The Ministry of Agriculture and Rural Development estimated that to fulfill target, Vietnam needs as many as US$8 billion from now to 2010, to set up material areas and develop woodwork processing factories.

 

The country now has 1.4 million ha of planted forest, supplying around 3 million cu.m of timber for paper and woodwork production a year.

 

In national forestry development strategy by 2010, Vietnam expects its forest to provide around 20 million cu.m of timber for the woodwork processing industry, 25-26 million cu.m of firewood for rural areas, accounting for 5 per cent, or US$10 billion, of the country’s GDP. (GSO July Edition, Vietnam Panorama)