China’s log imports rose 3 per cent in Q1

The rapid development of China’s real estate sector in the 1Q 2016 has promoted the growth of domestic demand for wood products, ITTO reported.

In the 1Q 2016 log imports were 11 million cubic metres, a year on year increase of 3%. Of the total, log imports from Russia rose 4% to 2.92 million cubic metres, ranking first, but imports from New Zealand fell 4% to 2.46 million cubic metres.

Log imports from the US increased 15% to 855,200 cubic metres, from Papua New Guinea by 28% to 911,000 cubic metres while imports from Myanmar fell 97% to just 4,500 cubic metres.

Compared to the same period in 2015 China’s 1Q 2016 sawnwood imports rose 16% to 6.55 million cubic metres, mainly due to increased imports from Russia, Thailand and Canada which posted gains of 22%, 18% and 55%, respectively.

While there was a general increase in imports, China’s exports in the 1Q 2016 weakened. Plywood exports fell 10% to 2.23 million cubic metres, fiberboard exports dropped 16% to 622, 700 cubic metres while particleboard exports declined 14% to 51, 500 cubic metres. The value of China’s 1Q 2016 wooden furniture exports fell 0.5% to $4.73 billion.