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.


* All content is copyrighted by Industry Intelligence, or the original respective author or source. You may not recirculate, redistrubte or publish the analysis and presentation included in the service without Industry Intelligence's prior written consent. Please review our terms of use.