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Pongasn68 EU27 tropical wooden furniture imports rise after a
slow start to the year
The EU27 imported 131,600 tonnes of wooden furniture from
tropical countries with a total value of US$553 million in the

first five months of 2024.
Tonnage was up seven percent while value was down one
percent compared to the same period in 2023. EU imports
of tropical wooden furniture picked up a bit in April and May
after a very slow start to the year.
In the first five months of this year compared to the
same period in 2023, EU27 import value of wooden furniture
increased from Vietnam (+5% to US$256.7 million), India
S&P’s composite PMI, which includes services, stayed just (+13% to US$104.2 million) and Malaysia (+23% to US$37.9

above 50 in July, despite slowing from June. Overall, the signs million). However, import value declined from Indonesia (-19%
are that the EU’s economic development is increasingly reliant to US$139.8 million) and Thailand (-33% to US$6.1 million).
on services while the situation of industry remains gloomy. Imports from all other tropical countries were negligible
The numbers underline the challenge faced by EU policy during the period.
makers in maintaining Europe’s competitiveness in the global
marketplace. Further calls to delay EU Deforestation Regulation
The newly re-elected chief of the European Commission, Pressure on the EU to delay implementation of the EU

Ursula von der Leyen, put restoring competitiveness front and Deforestation Regulation (EUDR) has continued to mount
centre in her political priorities for her next mandate, while from commodity producing countries worldwide according
European Central Bank President Christine Lagarde said in to leading international media.
mid-July that Europe’s competitive position vis-à-vis China Most recently, supplier country governments have questioned
is set to have a growing influence on the Bank’s thinking. the accuracy of, and definitions used in mapping undertaken
A long-awaited report by former ECB president Mario for EUDR enforcement by the EU Observatory to identify
Draghi, now due in September, is expected to provide more areas of deforested and degraded forest land.
detail, and help set the EU’s economic agenda in the next The EUDR is set to come into force at the end of
few years. In a recent speech in Spain, Draghi underscored 2024. It will require all operators and non-SME traders to

the importance of cheaper energy and innovation as drivers undertake due diligence to ensure no timber and six other
of economic growth and increased productivity. so-called forest and eco-risk commodities (FERCs) that are
He also noted that “successive layers of regulation have placed on or exported from the EU market are implicated
created a burden on long-term investment”. While stating in deforestation or forest degradation that has taken place
that “we don’t want to become protectionist in Europe”, he since 2020. It also stipulates that businesses must provide
went on to suggest that “we cannot be passive if the actions the geolocation coordinates of the plot of land from which
of others are threatening our prosperity” and appeared to commodities originate. The Regulation will extend to SME

allow greater scope for state-driven investment and trade traders six months later.
protection measures.” Australia and Brazil are ‘stepping up demands for the [EUDR]