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Malaysia's wood exports fell by 19% from January-August 2023

Posted on November 13, 2023 |

From January to August, Malaysia's wood and wood product exports fell by 19.1% compared to 2022, with total earnings at RM14 billion, down from RM17.3 billion.

The initial boost in global furniture sales during the COVID-19 pandemic was followed by a shift in consumer focus to tourism and other products as borders reopened.

Despite slower sales this year, the timber industry is determined to reach an export target of RM28 billion and a domestic market value of RM20 billion by 2025, in line with the National Agricommodity Policy 2021-2030 and supported by the National Timber Industry Strategic Plan 2021-2025.

Malaysia's wood and wood product exports saw a 19.1% drop when comparing this year's January to August period with the same time last year.

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