Non coniferous roundwood market in Eastern Asia

Earlier Report Observations

The non-coniferous roundwood market in Eastern Asia faced persistent downward pressure from a chronic construction sector downturn throughout the period. Starting in 2018, reduced building activity, particularly in residential construction, led to a sustained decline in timber demand. This trend culminated in 2019 with the market volume falling to 242.6 million m³, valued at 58.6 billion USD. Although physical volume recovered slightly to 259.4 million m³ in 2020, demand remained constrained as the construction slump continued to negatively impact consumption.

Global events introduced significant volatility to supply chains and costs. The COVID-19 pandemic in 2020 disrupted international logistics and maritime freight, affecting import patterns and prices. In subsequent years, rising global oil prices, exchange rate fluctuations, and increased export duties on Russian timber (2022) exerted upward pressure on import costs. These factors, coupled with reduced production in key hardwood exporting countries (2019), contributed to a sharp rise in market value, which reached 87.6 billion USD in 2022 despite a largely stable physical market volume around 259-260 million m³.

Domestic supply was actively managed by the state forestry service, which tightened logging permit controls to regulate market volume (2021, 2022). This policy supported a degree of increased self-sufficiency. The overall market volume stabilized in the range of 259-262 million m³ between 2020 and 2023. By 2023, the enduring construction downturn and an 18.1% drop in import volume contributed to a market value correction to 84.4 billion USD, while also fostering growth in adjacent segments like wood pellets.

Production non coniferous roundwood in Eastern Asia

In kind, 2017-2020, M m³

Top producers of non coniferous roundwood, 2017-2020

World map of production of non coniferous roundwood, 2017-2020

In 2019, Eastern Asia produced 228.1 million cubic meters of non-coniferous roundwood, marking the lowest output in recent years. Production then rebounded in 2020 to 247.1 million cubic meters, representing an 8.3% increase from the previous year. The highest production level was recorded in 2018 at 251.7 million cubic meters. The most significant decline occurred in 2019, when output fell by 9.4%.

Annual dynamics of production in Eastern Asia in kind, 2017-2020, M m³

In value, 2017-2020, M $ US

In 2019, the value of non-coniferous roundwood production in Eastern Asia reached its lowest point at 54 708 million US dollars. This was followed by an increase in 2020 to 60 522 million US dollars, a robust 10.6% growth from the previous year. The peak value was recorded in 2018 at 68 816 million US dollars. Over the period from 2017 to 2020, production value decreased by 11.6%, which translates to an annualized decline of 4.0%. The most substantial drop occurred in 2019, with a 20.5% decrease.

Annual dynamics of production in Eastern Asia in value, 2017-2020, M $ US

Exports non coniferous roundwood from Eastern Asia

Exports in kind, K m³

Exports of non-coniferous roundwood from Eastern Asia have declined for three consecutive years. In 2020, the region exported 43 thousand cubic meters, representing an abrupt 58.6% drop compared to the previous year. Over the 2017-2020 period, exports decreased by 74.7%, with a compound annual growth rate (CAGR) of -36.7%.

Annual dynamics of product's exports from Eastern Asia in kind, 2017-2020, K m³

Between 2017 and 2020, Vietnam dominated exports in volume terms, accounting for 76.4% of total flows, while the remaining exports were distributed among various other markets.

Structure of product's exports in kind by countries, 2017-2020

World map of product's exports from Eastern Asia in kind, 2017-2020

Exports in value, M $ US

Foreign supplies of non-coniferous roundwood from Eastern Asia have declined for the third year in a row. In 2020, exports were valued at 11 million US dollars, marking a steep 57.7% fall from the previous year. Over the 2017-2020 period, export value decreased by 77.5%, with a compound annual growth rate (CAGR) of -39.2%.

Annual dynamics of product's exports from Eastern Asia in value, 2017-2020, M $ US

From 2017 to 2020, Vietnam led the export structure in value terms with 59.3% of total exports, followed by Bangladesh at 7.7% and Asia, not elsewhere specified, at 2.5%. Together, these three markets accounted for 69.5% of total export flows.

Structure of product's exports in value by countries, 2017-2020

World map of product's exports from Eastern Asia in value, 2017-2020

Imports non coniferous roundwood to Eastern Asia

Imports in kind, K m³

Imports of non-coniferous roundwood into Eastern Asia declined for the second consecutive year. In 2020, imports totaled 12 365 thousand cubic meters, a strong 17.0% decrease from the previous year. The highest import volume was recorded in 2018 at 18 142 thousand cubic meters. Over the 2017-2020 period, imports decreased by 30.1%, with a compound annual growth rate (CAGR) of -11.2%. The largest decline occurred in 2019, with a 17.9% drop, while the largest increase was in 2018, with a 2.6% rise.

Annual dynamics of product's imports to Eastern Asia in kind, 2017-2020, K m³

Between 2017 and 2020, imports of non-coniferous roundwood into Eastern Asia were sourced from a wide range of partner countries. Papua New Guinea accounted for 19.2% of imports in volume, Solomon Islands for 13.4%, and Russia for 13.3%. Together, these three countries represented just 45.9% of total import flows.

Structure of product's imports in kind by countries, 2017-2020

World map of product's imports to Eastern Asia in kind, 2017-2020

Imports in value, M $ US

Foreign supplies of non-coniferous roundwood to Eastern Asia declined for the second year in a row. In 2020, imports amounted to 3 037 million US dollars, which is 23.0% lower than the previous year. The peak import value was recorded in 2018 at 5 348 million US dollars. Over the period from 2017 to 2020, imports decreased by 38.4%, equating to an annualized decline of 14.9%. The largest drop occurred in 2019, with a 26.2% decrease, while the largest increase was in 2018, with an 8.5% rise.

Annual dynamics of product's imports to Eastern Asia in value, 2017-2020, M $ US

Data from 2017 to 2020 show that imports of non-coniferous roundwood into Eastern Asia in value terms were not heavily concentrated. Papua New Guinea accounted for 15.2% of imports, the United States for 10.6%, and Solomon Islands for 10.3%. Together, these three countries represented only 36.1% of total import flows.

Structure of product's imports in value by countries, 2017-2020

World map of product's imports to Eastern Asia in value, 2017-2020