Timber Imports into UK Decreased in 2022, but Outlook for Timber Usage Remains Optimistic

According to recently released statistics from Timber Development UK (TDUK) and reporting by the Timber Trades Journal (3-13-23), imports of the main timber and panel products in 2022 were 2.4 million m3 lower than in 2021. TDUK, however, sees reasons for a brighter outlook in 2023, with improved economic forecasts for later in the year.

TDUK reports that the quantity of all imports in 2022 totaled 9.3 million m3, a 20% decline from 2021. The decline was led by a 25% reduction in softwood imports when compared to the previous year. However, despite the significant fall in both volume and total value, the average cost price of softwood imports rose 7% as worldwide demand remains strong.

The bright spot in timber and panel product imports is hardwood, which saw an increase in volume of 7% above 2021 levels. Hardwood imports totaled 576,000 m3, at a value of £433 million, which made 2022 the best year for hardwood imports by the UK this century.

FEA compiles the Wood Markets News from various 3rd party sources to provide readers with the latest news impacting forest product markets. Opinions or views expressed in these articles do not necessarily represent those of FEA.