According to local media in Vietnam, the export value of wooden products of Vietnam will hit USD5.5 billion by 2010 and Vietnam is expected to replace China to be the largest exporter for wooden furniture to the US. In recent years, the exports of wooden products have been surging: In six years, the export value increased 11 times and in 2006, the exports from Vietnam exceeded USD2 billion, up 38% over 2005.

 

Vietnam has an aggregate forest area of 100,000 sq. km, accounting for one third of the territory. In addition, Vietnam abounds with rare timbers. Therefore, Vietnam following China may emerge to be another industrial base in the world and this is a golden opportunity for China’s domestic companies entering into Vietnamese wood markets, according to an insider in Guangdong. “It’s easy to figure out the demand for woodworking machinery in Vietnam,” he added.