Hanoi (ANTARA News/Asia Pulse) -- The global economic crisis has reduced demand for wood products, according to an official from the Vietnam Timber and Forest Product Association (VFA).
Association statistics show the wood processing industry had a total export turnover of about US$500 million during the first three months of this year, down 22.9 per cent on a year-on-year basis because many main partners had reduced their imports.
Last year, firms received US$2.8 billion for wood products, which was 13.4 per cent higher than in 2007, but in the first two months of this year, the value fell 60 per cent to US$330 million compared with the same period last year, said VFA Deputy Chairman, Nguyen Ton Quyen.
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