Tag: ITTO

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Record Start To The Year For UK Tropical Wood And Wood Furniture Imports. ITTO European Market Report 15th May 2022

Warehouse of sawn wood

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.

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Intense Negotiations Underway On EU “Deforestation-Free” Law. ITTO European Market Report 30th April 2022

Deforested area

Intense negotiations continue within the European Council and European Parliament towards agreement of a final text of the law “on the making available on the Union market as well as export from the Union of certain commodities and products associated with deforestation and forest degradation”.

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European Veneer Consumption Rebounds By 10% In 2021. ITTO European Market Report 15th April 2022

Wood samples

In 2021, the 27 countries of the EU together with the UK (UK27+UK) imported 609,000 m3 of hardwood veneer from outside the region, 17% more than in 2020. EU27+UK imports from temperate countries increased 23% to 303,000 m3 in 2021 while imports from the tropics were up 11% to 307,000 m3 (Chart 1).

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Rise In Prices Drives Large Increase EU27+UK Tropical Wood Import Value. ITTO European Market Report 31st March 2022.

Stack of timber

In 2021, the EU27+UK imported 2.22 million tonnes of tropical wood and wood furniture with a total value of USD4.93 billion, a gain of 8% and 27% respectively in quantity and value terms. Compared to the pre-pandemic level of imports in 2019, imports last year were up 12% in value terms but still down 6% in quantity terms.

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EU27 Tropical Wood Import Value Up 23% In 2021. ITTO European Market Report 15th March 2022

Stack of cut wood for export

EU27 import value of wood and wood furniture products from tropical countries was USD3.69 billion in 2021, a gain of 23% compared to the previous year and 15% more than the pre-pandemic level in 2019. Imports finished the year strongly, the USD value of trade in November and December being at the highest level recorded for these two months for over a decade (Chart 1).

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EU’s Deforestation-Free Regulatory Proposal Sparks Intense Debate. ITTO Tropical Timber Market Report, Volume 26 Number 4, 16-28 February 2022, Europe Section

Deforested area of tropical forest

Intense negotiations are ongoing as the draft EU law on “deforestation-free” and “forest degradation-free” products, published by the European Commission (EC) on 17th November last year, navigates the various stages of the EU law-making process.

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UK Rollercoaster Ride For Tropical Wood Imports Driven By COVID And Brexit. ITTO European Market Report 15th February 2022

Tropical timber imports at docks

UK GDP increased 7.5% in 2021, the fastest annual growth rate in the UK since the second world war and making the UK one of the world’s fastest growing economies last year. But this “rise” must be considered in the light of the UK being amongst countries worst affected by the COVID-19 pandemic which led to a 9.4% fall in GDP in 2020 at a time when there was already uncertainty due to the country’s departure from the EU.

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COVID Casts Long Shadow Over The European Furniture Sector. ITTO European Market Report January 31st 2022

Wooden furniture

For the European furniture sector, as in other industries, the COVID pandemic is casting a long shadow, with no certainty yet that the most dramatic swings in supply and demand are in the past. Several European countries, including France and Italy, were reporting record numbers of new daily COVID cases in the last week of January, the increase due to the emergence and rapid spread of the new Omicron variant, first detected in South Africa.

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EU27 Tropical Wood Imports Slow Sharply In The Second Half Of 2021. ITTO European Market Report 15th January 2022

Wood for export being lifted by crane

After reaching the highest level for nearly a decade in the first half of 2021, the US dollar value of EU27 imports of wood and wood furniture products from tropical countries declined sharply in July and August. After a brief revival in September, imports fell away again in October (Chart 1).

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38% Rebound In UK Imports Of Tropical Wood And Wood Furniture Products. ITTO European Market Report 15th December 2021

Hardwood furniture

The UK imported tropical wood and wood furniture products with a total value of USD1.1 billion in the first ten months of 2021, a 38% increase compared to the same period in 2021. Import value to end October this year was also 4% more than the same period in 2019 before onset of the COVID pandemic. Following the sharp increase in April this year, when import value was at the highest monthly level since before the financial crises of 2008 – 2009, imports declined only slightly from this peak between May and October (Chart 1). Continue reading “38% Rebound In UK Imports Of Tropical Wood And Wood Furniture Products. ITTO European Market Report 15th December 2021”

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