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Canadian wood products face market decline in Asia

Canadian wood products face market decline in Asia

Posted on October 30, 2024   |  

The U.S. continues to be the biggest market for Canadian lumber, with Japan and China following as key markets for British Columbia (B.C.) wood products.

Japan and China face declining markets, partly due to shrinking populations.

B.C. lumber exports to China fell from $1.8 billion in 2013 to $268 million in 2023, and softwood lumber imports dropped 35% since 2019.

Lumber exports to Japan decreased from $825 million in 2013 to $382 million in 2023.

China deals with a population decline and a struggling economy, leading to a real estate crisis and reduced new home construction.

New housing starts in China dropped 70% since 2019, leaving 48 million pre-sold homes unfinished.

Although softwood lumber imports to China have fallen, demand for other wood products like furniture and packaging rose by 4-5% in the last two years.

In Japan, about 50% of new homes are made from wood, with government support for wood use; however, the number and size of new housing starts are declining due to smaller families.



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