Malaysia’s earnings from timber and wood product exports are on course to beat last year’s record of M$19.8bn, according to the government.
The country’s plantation industries and commodities deputy minister made the prediction while launching a seminar on “Government Incentives and Services for the Timber Industry”.
He said half year earnings totalled M$10.4bn, a 14.2% growth on a year ago.
The Malaysian Panel Products Manufacturers Association said demand is coming from the furniture and construction sector in the US, West Asian countries and India, while the Malaysian Timber Industry Board named Japan, America, the EU, China and the Association of SouthEast Asian Nations as major destinations for timber exports.
Industry analysts believe Japan will be an increasingly important market for Malaysian exports.
Malaysia’s timber and wood products shipments to Japan have grown during the last two years, with exports valued at US$82m last year.
