HIGHLIGHTS
Estimation of the Total Economic Value (TEV) of a tropical forest comprised the Direct Use Value (DUV), Indirect Use Value (IUV) and Non-Use Value (NUV) components of the TEV.
DUV was measured based on the timber and recreation values, which contributed the largest share of the TEV.
IUV was measured based on the carbon sequestration and watershed services values, which contributed the second largest share of the TEV.
NUV was measured based on the visitor's preferences regarding forest conservation and management aspects, which amounted to the least share of the TEV.
Implications to policy makers on policy-relevant information for forest conservation and management purposes in Malaysia are presented.
SUMMARY
Direct and indirect use of values and non-use values from forest ecosystem services perform an invaluable set of functions that cater to the needs of both living and non-living things. The values include market services obtained from timber and non-timber forest products, and non-market services (recreation, watershed protection and conservation value) were identified as components of the Total Economic Value (TEV). However, it is difficult to assign a monetary value to all goods and services provided by the forest. Failure to conserve the national park will result in the degradation of the forest and a reduction in the contribution of the forest ecosystem services to the community. Based on the result of this study, the TEV value of forest ecosystem services was estimated at RM 13 billion, and the estimation provides policy-relevant information for forest management and conservation purposes in Malaysia.
