In the first ten months of 2022, the EU27 imported 1.68 million tonnes of tropical wood and wood furniture products with a total value of USD3.79B, respectively 15% and 24% more than the same period the previous year. However, imports have been slowing since summer 2022 and the economic outlook in the EU deteriorated sharply in the last quarter of the year. The war in Ukraine is contributing to huge increases in energy prices, while business and consumer confidence has been hit by expectations of higher interest rates to control inflation. Continue reading “EU27 Tropical Wood Imports Slow As Economic Outlook Deteriorates. ITTO Market Report 31st January 2023”
The import value of tropical wood and wood furniture into the UK in the first ten months of last year was USD1.24B, 13% more than the same period last year. Following the strongest start to the year in terms of UK import value since before the 2008 financial crises, imports fell sharply between July and October (Chart 1).