VIETNAM – Vietnam’s wood and wood products exports reached a record high in the first 11 months of 2018 to USD 7.22 billion, up 15.63% compared to the same period last year.

In the last decade, the country’s wood processing industry has grown 2.7 times, making Vietnam the world’s fifth largest wood exporter with a market share of six percent, second largest in Asia, and first in Southeast Asia.

The number of enterprises has grown from 2,500 in 2008 to 4,500 in 2017, including 3,900 domestic and 600 foreign-funded enterprises.

Earlier, foreign firms accounted for over 70 percent of the country’s total wood exports, but now, the share of domestic firms in total exports has reached 53 percent.

The wood industry is one of the largest export industries in Vietnam.

To ensure a sustainable growth and conservation, the government issued Decision No: 1288/QD-TTg in October 2018, approving a project on sustainable forest management and forest certification by establishing the national forest certification system.