COVID-19 Pandemic’s Impact on European Plywood Markets Not as Severe as Initially Feared

According to a recent International Tropical Timber Organization (ITTO), the impact of the COVID-19 pandemic on the European plywood markets has proven to be less severe than the originally feared.  For the first four months of 2020, European plywood imports were down -16%. Several experts believe that business may not return to pre-pandemic levels until an effective vaccine is found and can be produced in massive quantities. For importers, their concern is over the long-term consequences of the pandemic on the various European nations economies and that will include the stress of the Brexit on the E.U. as whole. Social distancing and other official individual countries health guides did effectively slow the import trading of plywood as well. While imports from China, Indonesia and Malaysia slowed or in some instances dried up, other countries were able to help fill the void.