Indonesia wood exports better than expected despite COVID-19 pandemic
Despite the ongoing global pandemic, wood product exports for the first three quarters of the year jumped to US$8.3 billion, only just below the US$8.5 billion earned in the same period in 2019, reports the International Tropical Timber Organization's (ITTO) Tropical Timber Market Report (TTM Report).
The value of Indonesia’s wood product exports in the first eight months of 2020 amounted to around US$7.2 billion. This was almost 7% down compared to the same period last year when exports earned over US$7.7 billion.
The Ministry of Environment and Forestry (KLHK) has congratulated the private sector on this performance achieved in the face of great difficulties. The Minister said the government will continue to implement measures to support the sector so it can avoid a downturn.
FORESTHINTS.NEWS quotes the Ministry Secretary General, Bambang Hendroyono, as saying "The improvement in export performance means that we remain in alignment with our efforts to avoid lay-offs, as much as possible, in the forestry business sector. This is among our minister's top priorities.”
Source: ITTO TTM Report