European Bounce Weaker Than Other Major Economies – ITTO European Market Report 30th April 2010

In its latest forecasts released on 21st April, the IMF predicts that global output on a purchasing power basis will see healthy growth of 4.2% this year, a full percentage point more than it foresaw only six months ago. Other forecasts are even more optimistic, predicting global growth of 4.5% in 2010 – close to the average pace of the boom years prior to the recession.

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EU Hardwood Log Imports Down 60% in 2009 – ITTO European Market Report 14th April 2010

During 2009 EU imports of hardwood logs reached only 4.38 million m3, down a massive 60% on the previous year (Table 1). In addition to recessionary pressures and a lengthy period of destocking by European importers, the figures are strongly influenced by Russia’s phased introduction of log export taxes. This contributed to a 76% fall in the volume of EU imports from Russia during the year. However log imports were also well down from key tropical hardwood supplying countries including Gabon (-31%), Cameroon (-22%), the Congo Democratic Republic (-48%), and the Congo Republic (-59%).

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