Timber exports to hit RM23 bln this year
Exports of Malaysian timber are expected to reach RM23 billion this year compared with RM20.52 billion in 2010, Deputy Plantation Industries and Commodities Minister Datuk Hamzah Zainudin said yesterday.
He said statistics for 2009 showed Japan was the country's biggest market with 19 per cent of total exports, followed by United States (12.2 per cent), India (6.85 per cent), Korea (5.85 per cent), United Kingdom (4.65 per cent), Taiwan (4.30 per cent) and Australia (4.11 per cent).
Speaking to reporters after the opening of a RM5 million furniture centre called Rumah Melaka by Chief Minister Datuk Seri Mohd Ali Rustam here, he said exports could be enhanced further by adding value to the products especially furniture.
Nevertheless, he said, the timber and furniture industries should not depend solely on the export market to drive growth.
"The local market has the potential to create a double impression and mitigate challenges stemming from market uncertainty at the international level," he said. — Bernama
Domestic use of timber was estimated at RM24 billion annually with the construction sector being the largest contributor. — Bernama