EU27 Tropical Timber Trade Faces Double Dip Recession. ITTO European Market Report 15th January 2021

Tropical timber logs.

Total EU27 (i.e. excluding the UK) import value of tropical wood and wood furniture products was US$2.48 billion between January and October last year, 12% less than in 2019. This is a significantly higher level of import than forecast earlier in the year when the first waves of the COVID-19 pandemic hit the continent leading to widespread lockdowns with severe implications for the EU27 economy and on the supply side in tropical countries.

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EU27 Tropical Timber Imports Stronger Than Expected So Far In 2020. ITTO European Market Report 31st October 2020

man cutting wood DIY or construction

EU27 tropical timber imports are stronger than expected so far in 2020. The total EU27 (i.e. excluding the UK) import value of tropical wood and wood furniture products was US$1.98 billion between January and August this year, 14% less than in 2019. This is a significantly higher level of import than forecast earlier in the year with the “Great Lockdown” having a severe impact on the wider EU27 economy and on the supply side in tropical countries. The fact that EU27 trade in tropical wood timber products was cooling even before the onset of the COVID-19 pandemic makes this performance more remarkable.

Continue reading “EU27 Tropical Timber Imports Stronger Than Expected So Far In 2020. ITTO European Market Report 31st October 2020”
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