In the department of Amazonas (Colombia) several non-timber forest products (NTFP) have been considered as a viable alternative in the search for sustainability in tropical rain forests management; however, there are still confronting viewpoints about the role that NTFP might play in aspects as income generation and competition against timber extraction. This study analyzes the importance of both timber extraction and handcrafting on cash and non-cash income generation at household level, in different communities in the municipality of Puerto Narino (Amazonas, Colombia). We find that households earn in average a monthly income equivalent to $584,826 Colombian pesos (292,41 USD), and timber activity and handcrafting represent 17 and 8 percent, respectively, of this income. We also find that, under a partial equilibrium scenario, a reduction of timber activity of 30 percent would require a monthly incentive of $47,187 Colombian pesos (23,59 USD) per household engaged on this activity.