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Swedish lumber exports to US rose by over 9% in Q2 2023
Posted on November 3, 2023 |
Swedish timber producers have been expanding their markets globally, moving away from a heavy reliance on Europe, which used to receive 80% of their exports, now reduced to around 55%.
Their exports to the Middle East North African (MENA) region fell significantly, from 28% to 20% in the past decade.
However, the US market has gained importance, increasing from 1% in 2013 to over 9% in Q2 2023.
Swedish sawmills benefit from higher prices when selling to the US, with Q2 2023 export prices being nearly 45% higher than for regions like MENA.
In H1 2023, Sweden exported 10% more timber than during the same period in 2022, indicating a potentially record-breaking year in terms of shipments.
While they saw growth in sales in MENA and Europe, exports to the US and Asia declined by 8% and 3%, respectively.
Particularly noteworthy improvements were observed in the top 10 markets, with substantial increases in China (59%), the Netherlands (49%), Egypt (36%), France (17%), and the UK (15%).
The global demand for timber in H2 2023 is uncertain, but there are indications of potential price increases in the US market due to tighter supply and slightly higher demand, which could be advantageous for Swedish timber exporters.