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HomePage > News > Malaysian furniture producer Sarawak expects furniture exports to reach $ 1.4 billion by 2030
Malaysian furniture producer Sarawak expects furniture exports to reach $ 1.4 billion by 2030
Source:     Jan. 06, 2020 16:35

Recently, Sarawak Minister Aat Johari Openg said that the state has set a furniture export target of $ 1.4 billion in 2030.


 
He said that last year the state's furniture exports made a profit of about $ 10 million, while the total export value of wood products was $ 1.3 billion. The state has decided to shift the timber industry from relying heavily on the export of primary and secondary timber products to high value-added products.

 

Malaysian furniture producer Sarawak expects furniture exports to reach $ 1.4 billion by 2030

 

Sarawak's goal is to export wood products to $ 2.4 billion by 2030, of which furniture exports will be $ 1.4 billion. Sarawak hopes to add value to its resources through strategic industries such as forestry.


 
Recently, his minister delivered a speech at the graduation ceremony of young designers planned by Sarawak Timber Industry Development Corporation (STIDC), expressing encouragement and expectations for young designers.

 

Malaysian furniture producer Sarawak expects furniture exports to reach $ 1.4 billion by 2030

 

Deputy Chief Minister Datuk Amar Awang Aeng Tengah Ali Hasan said in his speech that the state government's goal through STIDC is to enable 100 young furniture designers to make their own contributions to the furniture industry by 2030.


 
He said that the plan will open up the global furniture market with young designers to promote the development of the furniture industry in Sarawak.


 
The Poyod plan is part of the long-term strategic plan of STIDC and the state government, which aims to promote the transformation of the timber industry into high value-added industries, especially the furniture sector.

 

Malaysian furniture producer Sarawak expects furniture exports to reach $ 1.4 billion by 2030

 

The global furniture market was worth US $ 576 billion in 2018. With the economic growth of developing countries and the increase in infrastructure investment, the future furniture market is expected to further develop.


 
He added: "As the consumer market develops rapidly, disposable income increases, lifestyle changes, etc., it is expected that the Asian furniture market will grow significantly."

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