Non coniferous roundwood market in South Korea

Earlier Report Observations

The market for non-coniferous roundwood in South Korea contracted significantly between 2018 and 2023, with total market volume falling from 1.98 million m³ to 1.27 million m³. This decline was driven by a sustained drop in domestic production, which decreased from 1.84 million m³ to 1.19 million m³ over the same period.

Imports of non-coniferous roundwood also diminished, falling from 140 thousand m³ in 2018 to 80 thousand m³ in 2023, reinforcing the downward trend in overall supply. Exports remained negligible throughout, having no material impact on market size. Preliminary data for 2024 shows imports declining further to 51 thousand m³, indicating continued pressure on the market.

Production non coniferous roundwood in South Korea

In kind, 2017-2020, K m³

Top producers of non coniferous roundwood, 2017-2020

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

South Korea's non-coniferous roundwood production has declined for the second year in a row. In 2020, the country produced 1 660 K m³, representing a 6.4% decrease compared to the previous year. Looking at the period from 2017 to 2020, production fell by 2.1%, which translates to an average annual decline of 0.7%. The highest production level was recorded in 2018 at 1 840 K m³, which also saw the largest year-over-year increase of 8.5%.

Annual dynamics of production in South Korea in kind, 2017-2020, K m³

Exports non coniferous roundwood from South Korea

Exports in kind, K m³

After two years of decline, South Korea's non-coniferous roundwood exports rebounded in 2020, reaching 0.9 K m³. This marked a significant 25.0% increase from the previous year. However, over the broader period from 2017 to 2020, exports decreased by 48%, averaging an annual decline of 19.6%. The lowest export volume was recorded in 2019 at 0.7 K m³, while the sharpest drop occurred in 2018 with a 38.0% decrease.

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

From 2017 to 2020, China remained the dominant export market for South Korea's non-coniferous roundwood, accounting for 86.5% of total export volumes. Other markets collectively made up the remaining share, forming a long tail of smaller destinations.

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

World map of product's exports from South Korea in kind, 2017-2020

Exports in value, K $ US

In 2020, the value of South Korea's non-coniferous roundwood exports reached 242 K $ US, showing a strong year-over-year increase of 24.1%. Despite this recent growth, exports declined by 30.1% over the 2017-2020 period, with an average annual decrease of 11.3%. The lowest value was recorded in 2019 at 195 K $ US, which also saw the largest decline of 62.9%. In contrast, the highest value occurred in 2018 at 525 K $ US, accompanied by the largest increase of 51.7% that year.

Annual dynamics of product's exports from South Korea in value, 2017-2020, K $ US

Between 2017 and 2020, China consistently represented 79.0% of South Korea's total non-coniferous roundwood export value, highlighting a high concentration on this single market. The remaining 21.0% was distributed among various other countries.

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

World map of product's exports from South Korea in value, 2017-2020

Imports non coniferous roundwood to South Korea

Imports in kind, K m³

South Korea's imports of non-coniferous roundwood declined for the second consecutive year in 2020, totaling approximately 118.0 K m³. This represented an 8.1% decrease from the previous year. Over the 2017-2020 period, imports fell by 12.5%, with an average annual decline of 4.4%. The peak import volume was recorded in 2018 at 140.8 K m³, which also saw the largest increase of 4.4%. The sharpest decline occurred in 2019 with an 8.7% drop.

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

From 2017 to 2020, the main sources for South Korea's non-coniferous roundwood imports were Papua New Guinea (42.9% of import volume), Solomon Islands (19.8%), and the United States (8.6%). Together, these three countries accounted for 71.3% of total import flows.

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

World map of product's imports to South Korea in kind, 2017-2020

Imports in value, K $ US

South Korea's non-coniferous roundwood imports declined for the second year in a row in 2020, with a total value of 39 612 K $ US. This represented a substantial 10.6% decrease from the previous year. Over the 2017-2020 period, imports fell by 14.9%, averaging an annual decline of 5.2%. The highest import value was recorded in 2018 at 52 834 K $ US, which also saw the largest increase of 13.5%. The most significant drop occurred in 2019 with a 16.2% decrease.

Annual dynamics of product's imports to South Korea in value, 2017-2020, K $ US

Between 2017 and 2020, the largest suppliers of non-coniferous roundwood to South Korea in value terms were Papua New Guinea (32.0% of import value), the United States (21.4%), and Solomon Islands (16.8%). Collectively, these three countries accounted for 70.2% of total import value.

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

World map of product's imports to South Korea in value, 2017-2020