• Thomas Russell

Report: Malaysian officials project furniture industry growth

U.S. remains a major market for country's wood furniture production

PUTRAJAYA, Malaysia – At a recent meeting held here, the Malaysian National Export Council (NEC) touted 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.

For the full story, visit: http://www.thesundaily.my/news/2017/10/10/nec-recognises-importance-furniture-industry-msia-economy.

 

Thomas RussellThomas Russell | Associate Editor, Furniture Today
trussell@furnituretoday.com

I'm Tom Russell and have worked at Furniture/Today since August 2003. Since then, I have covered the international side of the business from a logistics and sourcing standpoint. Since then, I also have visited several furniture trade shows and manufacturing plants in Asia, which has helped me gain perspective about the industry in that part of the world. As I continue covering the import side of the business, I look forward to building on that knowledge base through conversations with industry officials and future overseas plant tours. From time to time, I will file news and other industry perspectives online and, as always, welcome your response to these Web postings.

VIDEOS

  • Klarna targets Millennials for its POS financing

    Camera Icon More Videos

Web Directory Search
Search for Products/Companies

RSA Insights & Intelligence

RSA-newsletter-logo

RSA Insights & Intelligence gives you, the retail sales associates, critical intelligence and insights. We make it easier for you to sell by providing actionable tips and key takeaways you can and should use for every sale. Check out our latest two articles:
* How to use an implied close
* The low cost of mattresses