Japan’s Imports of Plywood Drop in February

According to the International Tropical Timber Organization (ITTO), in February, Japan’s overall year-over-year imports of plywood dropped 17%. When compared to January’s import volumes it was down 12.5%. There was a 50% drop in both year-over-year and month-over-month on panels imported from China. However, Japan’s major sources for plywood panels are Indonesia and Malaysia and they declined 15% in February. Japan was not particularly impacted by the COVID-19 virus in February, which is leading to concerns that both construction and home building sector were starting to slow-down.