About 48% of Honduras is covered by forests, including stands of longleaf pine and such valuable hardwoods as cedar, ebony, mahogany, and walnut. Total roundwood production in 2000 amounted to 9.49 million cu m (335 million cu ft), and forest products exports were valued at $45.2 million. The National Corporation for Forestry Development (Corporación Hondureña de Desarrollo Forestal), established in 1974, is charged with the overall preservation, exploitation, and exportation of Honduran forest resources. The privatization of government-owned woodlands is expected to intensify the use of forestry resources. A restriction on the export of raw wood also is causing growth in the woodworking industry for semifinished wood products.