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ITTO TROPICAL TIMBER MARKET REPORT

Boosting competitiveness and building international partnerships remain at the forefront of recent
efforts to navigate the challenges in an increasingly uncertain global trade climate. ITTO tells us
more about the latest developments in Asia.

MALAYSIA of geopolitical tensions in West Asia on energy prices, logistics

Economy exceeds expectations costs and supply chains.
Malaysia’s economy expanded six percent in the second Akmal also said that employment opportunities, higher
quarter of the year, up from 5.4 percent in the first quarter. incomes and greater purchasing power for the people were
This figure exceeded market expectations and represents more important.
Malaysia’s strongest second-quarter growth since 2014. The
growth was supported largely by strong domestic demand Sarawak to boost furniture for domestic and
and electrical and electronics exports. international markets
The Economy Minister, Akmal Nasrullah Mohd Nasir, Sarawak’s timber resources and growing industrial infrastructure
said. the latest performance brought GDP growth for the first could open up new opportunities for the state’s furniture

half of the year to 5.7 percent, up from 4.5 percent in the industry, particularly in producing higher-value products for
corresponding period last year. domestic and international markets.
He added the strong second-quarter performance came This was among the key areas explored during a courtesy
despite a challenging global environment, including the impact visit by the Kuala Lumpur and Selangor Furniture Association

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