Vietnam's export value of timber and wood products in June fell by 4.9% annually to 1.5 billion USD. (Photo: congthuong.vn)- Vietnam's exports of timber and wood products have decreased due to the impact of high inflation in the export market, according to the Ministry of Industry and Trade.According to the General Department of Customs, Vietnam's export value of timber and wood products in June fell by 4.9% on-year to 1.5 billion USD. Timber exports in June were estimated at more than 1.03 billion USD, down 18.1%.In the first six months, the export value of timber and wood products surged by 2.8% on-year to 8.5 billion USD. But the export value of wood products plunged by 4.6% on-year to 6 billion USD.Wooden furniture was the key export item in the structure of export timber and wood products in the first five months of this year. However, the export growth rate has been lower than the figures in the previous years.This year's timber and wood product export turnover growth is forecasted only to reach 5-7%.

Source: Viet Nam News July 12, 2022 16:43 UTC