Malaysia closes 2017 with expectations for a good year
The value of wood product exports from Malaysia jumped from RM20.79 billion in 2014 to RM22.15 billion in 2015 before taking a slight dip last year to RM22.11 billion. The domestic market in 2016 was worth another RM18 billion bringing the total value of output to around RM40 billion.
For 2017, the value of wood product exports up to June was RM11.5 billion with Japan and the U.S. being the main markets followed by India, Australia, Singapore, South Korea, United Kingdom, China, Taiwan and Thailand. Furniture and other value-added products accounted for the highest proportion of 2017 followed by semi-finished products such as plywood, sawn timber and wood chips.