YANGON, June 18 (Xinhua) -- The export value of forest products reached 212.965 million U.S. dollars in Myanmar in the fiscal year 2015-2016, according to the Ministry of Commerce on Saturday.

Myanmar is one of the top timber producers in Asia-Pacific region and well known for its high-valued teak and other hardwoods.

However, Myanmar stopped producing teak and reduced production of other hardwoods this year in order to preserve its forests.

Myanmar started banning export of raw timber logs in 2014.

Myanmar was covered by 45 percent of forests in 2015, and in 1990 it was covered by over 57 percent, according to the Ministry of Natural Resources and Environmental Conservation.