Rebound in UK Tropical Wood Imports Slows in Closing Months of 2020. ITTO European Market Report 31st January 2021

The rebound in UK imports of tropical wood products as the first wave of the pandemic receded in summer last year slowed in the last quarter of 2020 as the country, like much of the rest of the Europe, reimposed lockdown measures in response to the second larger wave which hit at the start of the winter months. In addition to a slowdown in overall UK business activity at the end of 2020, there are also reports of severe supply problems in the UK building sector, including for products imported from South East Asia and China, due to limited container space and rising freight costs.   

Total value of UK imports of tropical wood and wood furniture months increased only slightly from US$98 million in October to US$100 million in November, but then receded again to US$95 million in November (Chart 1). Total UK tropical wood and wood furniture imports in the 11 months to November 2020 were US$892 million, 23% less than the same period in 2019.

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Major Implications for Timber Trade as Brexit Enters the Endgame. ITTO European Market Report 15th December 2020

European Market Report

The long drawn-out process of the UK breaking ties with the EU, which started with the referendum of July 2016, is finally in the endgame. Since formally leaving the bloc on 31 January 2020, the UK’s relationship with the EU has been governed by the Withdrawal Agreement. This has allowed the UK to continue on the same terms it had with the EU prior to departure during a so-called `transition period’.

This transition period will come to an end on 31st December and it is only then that the full impact of the UK’s departure from the EU, which so far has been muted by the transition arrangements, not to mention the pressing effects of the COVID-19 pandemic during 2020, will become apparent.

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