China sees a boost in timber supply and demand during October

Posted on December 4, 2023   |  

In October, China's timber industry saw a surge in both orders and production, as evidenced by a 17.9% growth in their Global Timber Index (GTI), reaching 55.2%.

The Chinese government implemented several policies this year to support the real estate and household furnishing sectors.

The 'Notice on Several Measures to Promote Household Furnishing Consumption' and the 'Circular on Optimizing Criteria for the Recognition of Housing Units in Personal Housing Mortgage.'

These policies are making a positive impact on driving growth within the Chinese timber market.

The GTI-Brazil sub-index for new export orders saw a notable increase of 15.8% in October, indicating positive trends in harvesting, production, and orders with signs of slowing declines.

Additionally, the GTI-Congo harvesting sub-index showed a 6.5% increase, suggesting a slight improvement in wood supply. 

Indonesia's new-orders sub-index rose by 14.8% in October, indicating an uptick in demand.

However, the GTI indexes for Gabon, Malaysia, and Mexico remained below 50% in October, signaling a contraction.