In the first three months of this year, the value of EU imports of tropical wood and wood furniture was at a level not seen for over a decade. Import value was USD1.05 billion in the first quarter, a gain of 22% compared to the same period last year. It was also 16% up on the last quarter in 2021 when trade was already at a decadal high for that period of the year (Chart 1).
The import value of tropical wood and wood furniture into the UK in the opening two months of this year were at record levels. In the January to February period, import value totalled US$270 million, 47% more than the same period in 2021 when imports were also high following a strong rebound after the downturn during the first COVID lockdown in 2020. In fact, this was by far the highest value import of tropical wood and wood furniture products into the UK in any two month period since at least before the 2008 financial crises.