Export turnover of wood and wood products of Vietnam reached over USD 6 billion in the first 7 months of the year

Export of wood and wood products of Vietnam (Photo: Internet)

The Import and Export Department (under the Ministry of Industry and Trade of Vietnam) said that the export of wood and wood products in July 2020 was estimated at 1.05 billion USD, up 20.7% compared to July 2019. In which, export of wooden products was estimated at 832 million USD, up 28.8% compared to July 2019.

Accumulated from the beginning of the year to the end of July 2020, the export of wood and wood products was estimated at 6.09 billion USD, up 6.2% as compared to the same period in 2019. In which, the export of wood products was estimated at 4.44. billion USD, up 8.5% over the same period in 2019.

Export of wood and wood products showed positive signs in July 2020 as many import markets for this product have gradually removed gap restrictions. However, the export prospects for wood and wood products in the coming months are less positive, when the disease is showing signs of returning and booming in some major import markets of Vietnam.

In particular, in the US, the Covid-19 epidemic is causing heavy impacts on the country's economy. According to the International Monetary Fund (IMF), the US economy fell 37% in the second quarter of 2020 and is forecast to fall 6.6% in 2020. According to the Federal Reserve, the US economy forecast the largest economy. The world is still facing many uncertainties and risks, in the context of growing concerns about a prolonged epidemic, the risk of new epidemic waves, causing negative impacts. extreme towards the economy.

In Europe, many countries in Europe are concerned about the second wave of Covid-19 outbreaks due to the deterioration of the epidemic. Europe is set to respond to the second wave of Covid-19 outbreaks in the context of a continuing outbreak that has accelerated the re-imposition of restrictions.

According to the Vietnam Export-Import Department, unpredictable developments of the Covid-19 epidemic, leading to the re-imposition of isolation and social segregation restrictions in major import markets of Vietnamese wood and wood products. In the future, the export activities of this industry will be interrupted, negatively affecting Vietnam's wood processing enterprises in the coming time.

Phaata (Adapted from Minh Ngoc / Toquoc Online)