Wood exports to hit $3.2 billion in 2009

The Ministry of Industry and Trade predicts the country’s wood exports will reach about US$3 billion in 2008 and up to US$3.2 billion in 2009.

Experts said that in 2009, the wood industry will greatly suffer from real estate and financial crises. The forecast reduction in the trade of real estate will cause a drop in the demand for wood and wooden furniture.

In addition, many enterprises are just breaking even due to surging costs created by many factors, including traffic congestion.

The Vietnam Wood and Forest Products Association predicts that about 20 percent of enterprises in the field will go bankrupt and 30 percent will face with considerable difficulties.

However, the Ministry of Industry and Trade remains optimistic about the industry’s prospects as there is a growing demand for its products, which are highly competitive and meet importers’ requirements.

VOV

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