Value of Malaysian wood product exports reaches 5.54B Malaysian ringgit in first nine months, up 3% year-over-year; increases of 92% to Middle East and 37% to South Korea help offset 10% drop in exports to Japan

LOS ANGELES , November 28, 2012 () –

Malaysian wood product exports through the first three quarters of this year totaled 5.54 billion Malaysian ringgit (US$1.82 billion), which was up 3% from a year ago, according to a government release on Monday, reported Bernama on Nov. 26.

The increase was helped by higher exports to such destinations as China, India, South Korea, the Philippines, and Middle East countries; although exports to Japan declined, said State Industrial Development Minister Datuk Amar Awang Tengah Ali Hasan.

Exports to Japan, which is a major importer of wood products from Sarawak, Malaysia, fell by 10% in the first nine months of this year compared to a year earlier, dropping to 2.29 billion ringgit from 2.07 million ringgit, he said, Bernama reported.

However, exports for the January-through-September period were up sharply on a year-over-year basis to such countries as South Korea and those in the Middle East, the minister indicated.

Exports to South Korea rose 37%, to 471 million ringgit from 343 million ringgit; and shipments to the Middle East increased by 92%, to 525 million ringgit from 274 million ringgit, according to the minister, reported Bernama.

The primary source of this article is Bernama, Kuala Lumpur, Malaysia, on Nov. 26, 2012.


 

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