The import value of tropical wood and wood furniture into the UK in the opening four months of this year were at an unprecedented level of USD565 million (Chart 1). That is 36% 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 strongest start to the year in terms of UK import value of tropical wood and wood furniture products since at least before the 2008 financial crises. It compares to an average import value of less than USD380 million for the January to April period throughout the whole decade prior to the onset of the pandemic in 2019.
Price Inflation Drives Rise In Value Of UK Tropical Wood Product Imports. ITTO European Market Report 30th June 2022
