Home MMBIZ News Timber Exports Hit Almost $1b in 2013-14 FY

Timber Exports Hit Almost $1b in 2013-14 FY

The export of teak, hardwood and other timbers reached $947 million in the 2013-14 fiscal year, according to the Ministry of Commerce statistics.

The trade value of teak, hardwood, plywood and other wood products exported overseas amounted $916 million while the value of timber exported overland stood at $31 million, according to government statistics.

Teak logs were the largest export with a value of $638 million while nearly 34,328 tonnes of teak lumber was exported with a net worth of $31.55 million.

Over 590,000 tonnes of hardwood logs, worth $222 million, and hardwood lumber weighing over 9,000 tonnes as well as 18,000 tonnes of plywood was shipped abroad.

From 2001 to 2013, illegal timber exports amounted to 16.5 million cubic metres with a net worth of $5.7 billion, according to a report from the Environmental Investigation Agency (EIA).

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