According to the Ministry of Agriculture and Rural Development (MARD), the export revenue from timber and wood products was estimated at US$1.4 billion per month on average.

Meanwhile, the import turnover of timber and wood products in nine months was estimated at US$2.005 billion, up 24.9% over the corresponding period from 2023.

These figures resulted in a trade surplus of US$10.145 billion, statistics reveal.

The United States was the largest importer of Vietnamese timber and wood products, spending US$5.9 billion during the nine-month span, up 24.7% year on year.

It was followed by China and Europe, purchasing US$1.3 billion and US$630 million worth of the Vietnamese products, respectively, both up 20% from a year ago.

Timber and wood products are forecast to maintain a double-digit export growth rate over the coming months thanks to increasing demand globally.

The wood industry looks set to overcome formidable challenges as it strives to achieve the export revenue target of US$15.2 billion set for the whole year.