Malaysian furniture exporters benefit from weak Ringgit

Malaysian furniture exporters are benefitting from the weak Ringgit. At the current rate of over RM 4.25 to the US dollar the Ringgit has weakened around 27% in the year.

This year furniture exports were up around 20%. Sales in June were up 18%; 20% in July; and almost 15% in August compared to the same period last
year. In terms of value, June exports were worth RM 755.9 million; RM 791 million in July; and RM 835.6 million in August. The USA was the biggest export market with January to July exports worth RM 1.34 billion.

Plywood exports have also been big winners as sales in the first eight months totalled RM 3.4 billion, well up on the RM 2.9 billion for the whole of 2014.

Source: ITTO

Rubberwood cabinet by Acacia Home Furnishing at the top end of MIFF (Picture: Turnstone Singapore)