Last year, the overall trade volume amounted to only 10 million m³ – the smallest trade volume ever recorded by the ITTO. Compared to 2022, tropical timber trade saw a 16% decrease.
China remained the number one importer of tropical timber and accounts for around two thirds of the total volume. Nevertheless, demand for tropical wood products saw a clear downward trend in China, too. Since the all-time high in 2018, Chinese import volumes have more than halved according to the ITTO.
For the coming years, the trade organization expects slight increases. Uncertainties on the market remain great, though. Geopolitical conflicts, the weakness in the Chinese construction industry and the EUDR regulation in Europe have a continued negative impact on tropical timber trade.
From December 2 to 6, the International Tropical Timber Council is holding its 60th session in Yokohama/JP. More than 180 delegates and observes participated in the event.
