Furniture exports to hit RM8b this year
SERDANG: Malaysia's furniture exports is likely to expand by only 10 per cent to surpass the RM8 billion mark as manufacturers suffer profit erosion due to erratic fluctuation of the US dollar and insufficient labourers.
Malaysia Furniture Entrepreneur Association president Lor Lean Sen said the earlier growth forecast of 15 per cent from last year's RM7.67 billion is not likely to pan out because many of our manufacturers are not able to get enough labourers to work on their clients' orders.
"In the first half of this year, furniture exports amounted to RM3.85 billion, 10 per cent more than the RM3.48 billion recorded a year ago. Based on that performance, it looks like RM8 billion is a realistic target.
"Overall, this is already an achievement as furniture exports have stagnated in the last three years. Our shipments have gone up this year and we hope to see continued growth in the years ahead," he added.