Forest Industries Intelligence

In the first five months of this year, the EU27 imported 710,800 tonnes of tropical wood and wood furniture products with a total value of USD1.48b, respectively 17% and 27% less than the same period in 2022. The sharp downturn this year is mainly indicative of the very strong start to the year in 2022. Total EU27 imports of tropical wood and wood furniture in the first five months this year were closely aligned with the long-term average between 2013 and 2019 when trade was subdued but steady. For now, therefore, trade seems to have returned to more “normal” levels after the volatility during the COVID pandemic. While imports were reasonably robust between January and March this year, particularly in dollar terms, they slowed sharply in April before picking up again in May (Charts 1a and 1b).

Continue reading “EU27 Tropical Wood Imports Back To “Normal” Levels. ITTO European Market Report 30th July 2023”

The general mood of hardwood traders attending the Interzum 2023 show in Cologne 9 to 12 May was that the overall market, having slowed dramatically in the second half of 2022 has remained very subdued this year. There were many references to economic uncertainty owing to the Ukraine war, extremely high energy costs, rising inflation leading in turn to higher interest rates, and consumers becoming increasingly cautious after two years of high spending immediately after lockdowns. The boom in home improvement that started in the pandemic and helped drive hardwood sales in Europe, and which was encouraged by government stimulus measures, is now well and truly over.

Continue reading “Subdued Mood Amongst Hardwood Traders At Interzum. ITTO European Market Report 15th May 2023”

After several years of disruption during and in the aftermath of the COVID pandemic, this year the Milan Salone del Mobile furniture fair returned to its traditional April slot for the first time since 2019. Although visitor numbers were still down on pre-pandemic figures of around 400,000 in 2018 and 2019, at 307,418 they were 15% more than in 2022.

Continue reading “Milan furniture fair takes sustainability focus to another level. ITTO European Market Report 30th April 2023”

In 2021, logistical problems on the supply side in tropical countries during the COVID pandemic seemed to accelerate the long term trend away from tropical timber products in the EU27 market. The share of tropical products in the total value of EU27 imports of wood and wood furniture fell from 20% in 2020 to just 17% in 2021. However, last year the situation was transformed as tropical products recorded the largest increase in share for at least the last 15 years, rebounding to 21% of the total value of EU27 imports of wood and wood furniture (Chart 1).

Continue reading “Largest Increase In Tropical Share Of EU27 Wood Market For At Least 15 Years. ITTO European Market Report 30th March 2023”