Malaysia's furniture exports expected to grow in the upcoming years

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At a recent meeting held here, the Malaysian National Export Council (NEC) signaled the importance of the furniture industry noting that furniture exports are expected to rise over the next few years.

According to a report in the Sun Daily, officials with both NEC and the Malaysia External Trade Development Corp. (MATRADE) also said that the industry’s prospects could be boosted further by enhancements in product innovation and the “creation of high value segments, the adoption of smart and sustainable manufacturing, usage of new materials and establishment of a furniture hub in the country.”

MATRADE officials estimated that in 2016, 80% of Malaysia’s furniture exports were wooden furniture valued at about $1.8 billion. The U.S. was among the most important export markets, with an estimated $616.1 million in shipments that year. Other major export markets include the European Union and Japan.

MATRADE estimates that the industry is expected to generate some $2.8 billion in revenue by 2020 and employ about 240,000.

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