More than 3.32 million m3 of timber and panel imports were imported in Q3 2021, as the market achieves greater balance between supply and demand after nearly a year of record imports.
Analysis of these statistics by the Timber Trade Federation (TTF) statistics show these import levels are more than 23% over Q3 2020 and, significantly, more than 10% higher than the last time Q3 volumes exceeded three million m3 – in 2007.
Softwood is being imported in larger amounts from a more diverse range of countries over the past quarter, with Latvia, Finland, and Germany growing to account for 61% (1.1 million m3) of the 1.8 million m3 of softwood imported in Q3 2021.
Other timber products, including hardwood, plywood, particleboard, OSB and MDF, have also seen clear increases in Q3 2021 as compared with the previous year.
While some goods continue to be under pressure amidst buoyant demand, and logistics issues, the timber supply chain overall has proven resilient, with the timber industry in a strong position to meet demand in 2022.