Timber industry exports hit RM20.4 billion
Published on: Thursday, December 22, 2022
By: Bernama
Timber product exports rose to RM20.4 billion, with manufactured wood products making up 81.3 per cent of overall exports. (Business Today)
Kuala Lumpur: Recovering from the pandemic, exports of timber industry products rose 3.4 per cent in 2021 to RM20.4 billion supported by both manufactured and agricultural timber products, the Department of Statistics (DoSM) said.In a statement Wednesday, DoSM said exports of manufactured wood products represented 81.3 per cent of overall timber industry exports in 2021 with a value of RM16.6 billion while agricultural wood products accounted for 18.7 per cent or RM3.8 billion.ADVERTISEMENT
“For the past 32 years, trend of Malaysia’s timber industry products exports has been fluctuated and were once peaked in 2006 at RM22.9 billion.
“Japan is a significant export destination for Malaysia’s timber products, contributing 30.1 per cent share or RM2.1 billion in 2021,” chief statistician Datuk Seri Dr Mohd Uzir Mahidin said.
DoSM said imports of agricultural wood products also showed an increasing trend, rising on average of 11.2 per cent annually between 1990 and 2021 to fulfill the demand for intermediate input of the expanding wood manufacturing industry.
In terms of imports, the value of Malaysia’s imports of timber products was RM3.2 billion in 2021, increasing steadily over the years as compared with RM65.9 million in 1990 with Indonesia and China the most significant countries of origin for imports of timber products in 2021 with a value of RM700 million and RM600 million respectively.ADVERTISEMENT
Mohd Uzir said Malaysia’s furniture industry was booming as well in tandem with the manufacturing sector’s performance.
“The export value of furniture products amounted RM1.6 billion and accounting two per cent of total exports in 1990.
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“It was spotted soaring along the way to RM16.6 billion in 2021 with up and down trend. The average annual growth rate of this product between 1990 to 2021 is at 7.9 per cent,” he said.
Mohd Uzir said the United States, Japan, Singapore, the United Kingdom and Australia were the top five countries of destination in exports of wooden furniture.
Meanwhile, he said imports of furniture products amounted to RM5.7 billion in 2021 with China dominating as the major country of origin of other wooden furniture since 2008.
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