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UK timber imports reach year-to-date peak in May
Posted on August 16, 2024 |
In May 2024, the UK saw timber imports reach 897,000 m³, the highest monthly volume of the year, but still 7% lower than May 2023's 969,000 m³.
Timber imports for the January to May period in 2024 were about 4% lower than the same timeframe in 2023.
Over the past two years, UK timber import volumes have decreased due to a sluggish economy and a decline in construction activity, though the long-term outlook for timber and panel imports remains positive.
Softwood imports make up 62% of the UK's total timber imports. Although overall softwood imports were down 4%, planned spruce imports, which account for 45% of all softwood imports, rose by 3%.
Increases in planned spruce imports were led by growth from Sweden (+4%), Latvia (+17%), Ireland (+18%), and Norway (+104%), with price reductions of 5-15% in Latvia, Ireland, and Norway boosting demand, while Sweden maintained steady prices.
Hardwood imports during the first five months of 2024 were approximately 20,000 m³ lower compared to the same period in 2023, with Latvia and the US responsible for the majority of this decrease.
Despite the overall decline in hardwood imports, countries like France, Estonia, Romania, Cameroon, and the Congo Republic have slightly increased their timber exports to the UK in 2024.
The UK timber import market shows strength in certain areas, despite overall declines and economic challenges.