A stronger end to 2024 saw volumes of the main timber and panel products imports finish the year up by 0.5 percent when compared with 2023 – an increase of 45,000m3.
Import volumes have steadily improved since Q3 2022, with the final quarter of 2024 showing volumes 13.1 percent higher than the same period the year before, although it should be noted that Q4 2023 was the weakest fourth quarter by volume since Q4 2012.
The small overall volume increase in timber and panel imports in 2024 was led by modest growth in softwood imports, supported by small increases in the volume of plywood, OSB and engineered wood products. The growth of these four products outweighed the volume reductions experienced by hardwood, particleboard and MDF imports. Solid wood imports for the year were 1.2 percent higher than in 2023, while imports of panel products were 1.0 percent lower.
A significant feature of 2024 has been the shifting emphasis in sources of supply for many timber and panel products. While overall volumes from the top five softwood supplying countries reduced slightly, with only Latvia and the Republic of Ireland growing by 7 percent, we saw good growth elsewhere. Norway, Lithuania, Austria, France and Canada all enjoyed higher volumes, and the combined growth from all countries outside of the top five in 2024 was an impressive 26 percent.
The overall value of softwood imports in 2024 was 1.5 percent higher than in 2023. The value of planed softwood grew by 3 percent and the value of sawn goods remained the same. Whitewood values were 1.7 percent lower in 2024 and redwood values rose by 6.2 percent.
All hardwood imports in 2024 were 2.2 percent, or around 10,000m3, lower than in 2023. The main contributors to this fall were the USA’s supply of temperate species, and Cameroon’s supply of tropical hardwoods. These volume reductions outweighed the higher volumes recorded from France, Latvia, Estonia and Romania.
