In the first nine months of this year, the EU27 imported 1.53 million tonnes of tropical wood and wood furniture products with a total value of USD3.48B, respectively 15% and 25% more than the same period the previous year. However, imports have been slowing since the summer and, as Europe moves into the winter months there are ominous signs of recession ahead. 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.
EU27 Tropical Wood Imports Slow With Mounting Signs Of Recession. ITTO Market Report 30th November 2022
