Vietnamese wood industry expects rising exports this year

Vietnam’s wood and forestry sector is aiming to export 15.2 billion USD worth of its products this year, an increase from the 14.47 billion USD last year which was down 15.4% from 2022. According to the Department of Forestry, the fundamental reason of the last year's fall is that consumers reduced their spending on non-essential items such as wood and wood products to deal with rising prices caused by geopolitical crises. In addition, several businesses saw value-added tax refunds delayed, making it harder for them to raise finance for manufacturing, while ...