HANOI, Sept. 18 -- With estimated exports of 5.5 billion U.S. dollars in 2013 Vietnam is set to become Southeast Asia's biggest wood and wood products exporter, Vietnam's state- run news agency VNA reported Wednesday with sources from the Ministry of Agriculture and Rural Development.

In the first eight months of 2013, wood exports jumped 11.6 percent to over 3.3 billion dollars after strong growth in shipments to most markets including South Korea (up 48.2 percent), Japan (20.3 percent), China (14.7 percent), and the U.S. (7.2 percent), according to the ministry.

Meanwhile, during the period, wood imports decreased 3.5 percent to 918 million dollars, according to the ministry.

Nguyen Ton Quyen, general secretary of the Vietnam Timber and Forest Product Association (Vifores), said that orders have increased by 20-30 percent this year, and even up 50 percent at some companies.

He attributed the increase mainly to the global economic recovery, including Japan, the U.S. and EU, pushing demand for wood products up.

Many importers have also moved their orders from China to Vietnam because of lower wages and the need to find an alternative to avoid risk, Quyen said.

In 2012, Vietnam's wood exports were up 15.3 percent year on year to 4.67 billion dollars.

Source:XINHUA NET

Posted and edited by  Hanbao News Department

Contact: import-export@hanbaogroup.com