Timber imports remain subdued
Posted: Thursday, May 9th, 2024
Analysis by trade body Timber Development UK (TDUK) shows that imports or main product groups were up just 0.2% in the first two months of 2024 compared to the same period in 2023, The Construction Index reported. However, volumes remain subdued, reflecting weaker construction output—particularly house-building—and a generally lacklustre economy. Softwood, hardwood, particleboard and MDF experienced lower import volumes compared to the first two months of 2023, whereas plywood, OSB and engineered wood products are currently ahead of last year. Solid wood imports were 2% lower than in the first two months of 2023, while imports of panel products were nearly 5% higher, largely due to big increases in imported hardwood plywood driven by imports of eucalyptus-faced plywood from China. It's important to acknowledge the challenges. According to the most recently released HMRC statistics, softwood plywood imports have experienced a 23.8% fall compared with January-February 2023, making the first two months of 2024 the worst start to a year for softwood plywood since 2012 – mainly due to a poor January. TDUK head of technical and trade Nick Boulton said: “At the end of 2023 and early 2024, the UK tipped into a modest ‘mini’ recession, but unlike the destructive recessions we’ve seen in recent decades, this one was thankfully short-lived, and economic indicators for 2024 have improved in recent months.”
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