Sarawak exports dip but investments will continue: STIDC

Sarawak timber exports fell eight per cent to RM2,404 million between January and May in 2017 compared to the same period last year, due to uncertainty in the global economy.

However, the Sarawak Timber Industries Development Corp (STIDC) and its subsidiary companies will continue to invest said the Minister of Industrial and Entrepreneur Development.

The timber industry is still the biggest contributor to the state’s economy after oil, gas and palm oil. Plywood is the main timber export in Sarawak with exports in the first five months of this year totaling RM1,254 million, slightly down on the same period last year.

Other export products were logs (RM507 million), sawnwood (RM344 million), plywood (RM122 million) and veneer (RM64 million).

Japan is still the main market for Sarawak wood products with exports being worth RM961 million between January and May, followed by India (RM354 million), South Korea (RM229 million), Taiwan P.o.C (RM176 million) and the Philippines (RM152 million).

Source: ITTO