Wooden furniture products made up about 80% of Malaysia’s total RM8bil furniture exports in 2015. Malaysian wooden furniture exports to the US was about 35% of the overall wooden furniture exports in October 2016. “Many local wooden furniture exporters are mainly original equipment manufacturing (OEM) and it’s a volume game with low margins. To move forward, we need to encourage more own design manufacturing (ODM) to gain a better profit margins,” says an economist. He expects growth of the wooden furniture segment to continue in the coming years on the back of global economic growth and demand from the US housing market.

Source: The Star January 13, 2017 23:32 UTC