Malaysia’s timber-related products exports to hit 5.7 billion USD next year
The Malaysian Ministry of Plantation Industries and Commodities (MPIC) has targeted a two-fold increase in the export of timber-related products to 24 billion RM (about 5.7 billion USD) next year.
Malaysian Minister of Plantation Industries and Commodities Datuk Zuraida Kamaruddin (Source: Bernama)
Kuala Lumpur (VNA) – The MalaysianMinistry of Plantation Industries and Commodities (MPIC) has targeted atwo-fold increase in the export of timber-related products to 24 billion RM(about 5.7 billion USD) next year.
Its minister Datuk Zuraida Kamaruddin said this can beachieved by exploring new markets such as Central Asia, the Middle East, andOceania, with the support from the ministry in ensuring sufficient manpower,efficient management, and funding, according to Malaysia's national news agencyBernama.
"We are hopeful of increasing revenue from thewood industry,” she said at a recent media briefing after launching the TIMB3RDesign Incubator Programme (TIMB3R DIP) 2.0 and Hackathon.
Despite the pandemic, exports of timber andtimber-based products from January to August 2021 amounted to 14.3 billion RM,and the five main export products were wooden furniture (6.6 billion RM),plywood (2 billion RM), sawn timber (1.5 billion RM), builders’ joinery andcarpentry (BJC) (606.0 million RM), and wood veneers (460.7 million RM).
The top five export markets were the US (4.9 billionRM), Japan (1.9 billion RM), China (1.6 billion RM), Singapore (614.4 millionRM) and India (596.8 million RM).
Malaysia’s wooden furniture exports are projected toexceed the target of 12.5 RM billion for 2021 and the country had alreadyachieved 6.6 billion RM as of August this year.
In 2020, the export value of wooden furniture totalled10.6 billion RM.
Malaysia has also been listed as the sixth largestexporter of wooden furniture and BJC globally with total exports valued at 12.3billion RM in 2020./.
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Malaysian Minister of Plantation Industries and Commodities Datuk Zuraida Kamaruddin (Source: Bernama) 
