KUALA LUMPUR: The timber and timber product exports are expected to record five to six per cent growth to RM23 billion this year, surpassing RM22.11 billion last year, said Malaysian Timber Industry Board (MTIB) Director-General, Datuk Dr Jalaluddin Harun.
He said for the first ten months of this year, the exports of timber and timber products grew by 6.2 per cent to rake in over RM19 billion.
“If we were to continue at this pace, we are talking about close to RM23 billion worth of exports this year and better than last year’s performance,” he told reporters after launching Forestry Assets Sdn Bhd’s Angeli Autumn Sky 2017 range of products yesterday.
Malaysia exported timber and timber products to over 162 countries with major destinations, among them, Japan, the US, European Union countries, India, Australia, South Korea, Singapore and others.
The main export items are finished goods – furniture, builders joinery and carpentry and moulding.
Jalaluddin said the positive growth for this year was largely contributed by strong export of furniture products, which accounted for 34 per cent of the total export figure.
In the first ten months 2017, furniture exports grew by 8.4 per cent compared to the same period in 2016, he said.
Should this momentum continued, he said, the overall wooden furniture export value would likely hit RM8.3 billion this year.
“The timber industry is not a sunset industry. It is vibrant and sustainable and we are growing,” he said, saying that the rich raw resources in the country had benefited Malaysia and to outperform other producers.
He said about 80 per cent of export furniture were produced from rubber wood, a commodity that not only produced latex but also generated wealth in terms of furniture and timber products.
On outlook, Jalaluddin said, MTIB expected furniture exports to grow by between eight and nine per cent to RM9 bilion-RM10 billion next year.
He said the board would continue to focus on promoting interior furniture like bedroom set, dining set, living room set, sofa and many more. — Bernama