Forestry products bring trade surplus of US$3.52 billion

SGGP
Vietnam Administration of Forestry yesterday said that major forestry products brought Vietnam a trade surplus of US$3.52 billion in the first ten months this year.

Forestry products bring Vietnam a trade surplus of US$5.72 billion in the first ten months of 2018 (Photo: SGGP)

Forestry products bring Vietnam a trade surplus of US$5.72 billion in the first ten months of 2018 (Photo: SGGP)

The export value of major forestry products was estimated to hit $7.61 billion, accounting for 84 percent of this year plan and increasing 16.12 percent over the same period last year.
Forestry products now make up 23.37 percent of the total export value of the agricultural industry . Of these, wood and wooden products' export turnover hit $7.23 billion, up 16.12 percent.
Main export markets include the US, Japan, China, South Korea and the EU. They account for 87 percent of the total export turnover.
Tax rates imposed on wood and wooden products have been high because of the escalating US-China trade war.
As of March 23, the country collected VND2,557 billion of forest environmental service fee. The revenue reached 109 percent the year plan.

By VAN PHUC – Translated by Hai Mien

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