UK Timber Imports Hit Year-to-Date High in May
May is a high point for timber imports in 2024, figures show
According to the latest Timber Development UK (TDUK) statistics released on Monday, May was the best month of 2024 for timber import volumes at 897,000 m3.
While May didn’t quite match the high point of 969,000 m3 recorded in May 2023, it remains the best month of 2024. Volumes in May were down 7% from May 2023, following a 5% year-over-year increase in April.
From January to May, volumes were down about 4% down compared to 2023.
Overall, timber import volumes have weakened over the last two years, TDUK reports. A sluggish UK economy and a reduction in construction output have contributed to these weaker volumes, but the long-term trend for timber and panel imports remains positive.
TDUK notes that the overall performance of UK imports is weighted heavily towards softwood imports, which account for 62% of total volume. Softwood imports were 4% lower, but some products have seen import levels grow. Planed spruce imports—which make up 45% of all softwood imports—were 3% higher, driven by good growth from Sweden, up 4%, Latvia, up 17%, Ireland, up 18%, and Norway, up 104%. Also of note, price reductions of 5–15% have contributed to growth from Latvia, Ireland, and Norway, while Sweden has achieved good growth while maintaining prices.
Meanwhile, hardwood imports in the first five months of 2024 were around 20,000 m3 lower than the same period in 2023. Three-quarters of this reduction is due to lower volumes from Latvia and the US. France, Estonia, Romania, Cameroon, and the Congo Republic have all increased their volumes exported to the UK in 2024, albeit by relatively small amounts.
In the first five months of the year, tropical hardwood imports were slightly less than 3% below the same period in 2023, amounting to around 1,000 m3. The Democratic Republic of the Congo and Malaysia were the largest contributors to this reduction.
Finally, TDUK said that although timber and panel imports remained subdued, some specific types of timber and panels have seen outstanding performance.
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