Malaysia's timber exports to China will increase by 23% year on year in 2020
The main growth markets of wood products are the United States and China, accounting for 44% of Malaysia's total exports.
Although Malaysia's timber industry suffered a twists and turns during the 2020 epidemic, compared with the timber export of rm22.5 billion in 2019, the timber export in 2020 will only drop by 2%. The main markets for growth in wood products are the United States and China. These two markets account for 44 per cent of Malaysia's total exports. In particular, sales to the United States increased significantly in 2020, up 50 per cent from RM5 billion in 2019 to rm7.4 billion. Timber exports to China have increased 23 per cent in 2020 to RM2.3 billion.
You May Like