Malaysia 2011 furniture exports may rise to USD2.8b
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Malaysia’s 2011 furniture exports are likely to improve by 9 percent to MYR8.7 billion (USD2.84 billion), provided the US dollar stabilises at the current level and manufacturers are able to secure enough foreign workers at their factories.
Malaysian Furniture Industry Council president Richard Lee said there was growing demand for Malaysian-made furniture from the US and Australia, especially now as American consumer spending is showing signs of recovery and Australians need to refurbish their homes after the big flood.
Traditional markets like the US and Europe tend to favour Malaysia over low-cost producers like China and Vietnam due to better quality control and reliable after-sales services.
Questions & Answers
Q.What is the projected value of Malaysian furniture exports for 2011?
What is the projected value of Malaysian furniture exports for 2011?
Malaysian furniture exports are forecast to reach MYR8.7 billion in 2011. This is equivalent to USD2.84 billion, assuming the US dollar remains stable at its current level.
Q.What are the main conditions for Malaysia to achieve its export growth target?
What are the main conditions for Malaysia to achieve its export growth target?
The target relies on two key conditions being met. The US dollar must stabilise at its current level, and manufacturers need to secure a sufficient number of foreign workers for their factories.
Q.Which markets are showing increased demand for Malaysian furniture?
Which markets are showing increased demand for Malaysian furniture?
There is growing demand from the US and Australia. American consumer spending is recovering, and Australians are refurbishing homes after recent floods, contributing to this increased interest.
Q.Why do traditional markets prefer Malaysian furniture over goods from other low-cost producers?
Why do traditional markets prefer Malaysian furniture over goods from other low-cost producers?
Traditional markets like the US and Europe favour Malaysia due to better quality control. They also appreciate the reliable after-sales services provided by Malaysian manufacturers, setting them apart from competitors.
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