Myanmar’s teak dominates luxury yacht building market

Myanmar’s teak has cemented its position as a sought-after material in the world of luxury yacht construction, with purchases recorded from 20 different countries. Deputy Director-General Dr Than Naing Oo of the Forest Department emphasized the remarkable demand and impact of this trend.
Over the first four months of this financial year, Myanmar exported 2,610.1657 tonnes of teak. Its popularity remains high due to its exceptional quality and suitability for crafting luxury yachts. This demand is underscored by ongoing exports to the yacht building market.
From April to July in the 2023-2024FY, Myanmar managed to export 2,610.1657 tonnes of teak to 20 countries, yielding an impressive export revenue of US$8.137 million.
Dr Than Naing Oo offered insights into the specifics: “Between April and July of the financial year 2023-2024, Myanmar’s teak found its way to 20 countries through 41 companies in 242 containers, totalling 2,610.1657 tonnes. The resulting export revenue amounted to US$8.137 million.”
India, Singapore, Malaysia, Thailand, and China stood out as key destinations for Myanmar’s teak during this financial year, underscoring the global appeal of this fine timber. — ASH/KZL