Non coniferous sawnwood market in South Korea

Earlier Report Observations

From 2018 to 2021, the South Korean non-coniferous sawnwood market grew from 260 thousand m³ to 284 thousand m³. This expansion coincided with the broader development of the wood processing industry, where the number of businesses and employees increased, and production shifted toward higher-value products. The implementation of a system to restrict illegal timber trade in October 2018 further encouraged domestic production, although imports remained the primary supply source.

A sharp contraction followed in 2022, with market volume dropping to 229 thousand m³ and falling further to 190 thousand m³ in 2023. The decline was primarily driven by a steep fall in imports, as rising fuel costs and unfavorable exchange rates made overseas timber more expensive. Concurrently, the industry underwent structural changes, including a reduction in the number of sawmills alongside their consolidation and automation, while emerging segments like wood pellets and timber-frame construction boosted demand for domestic wood.

Production non coniferous sawnwood in South Korea

In kind, 2017-2020, K m³

Top producers of non coniferous sawnwood, 2017-2020

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

South Korea's production of non-coniferous sawnwood increased in 2020, following a two-year decline. The country produced 63.0 K m³ that year, marking a modest 3.3% rise compared to 2019. Over the 2017-2020 period, however, production fell by 39.4%, with an average annual decline of 15.4%. The lowest output was recorded in 2019 at 61.0 K m³, while the sharpest drop occurred in 2018, when production plunged by 34.6%.

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

In value, 2017-2020, M $ US

South Korea's non-coniferous sawnwood production value declined for the third consecutive year in 2020. Output was valued at 74.6 M $ US, reflecting an 11.6% year-on-year decrease. From 2017 to 2020, production value fell by 41.7%, with an average annual decline of 16.4%.

Annual dynamics of production in South Korea in value, 2017-2020, M $ US

Exports non coniferous sawnwood from South Korea

Exports in kind, K m³

South Korea's exports of non-coniferous sawnwood increased for the second consecutive year in 2020. Shipments reached 2.6 K m³, showing a steep 48.5% rise compared to the previous year. Between 2017 and 2020, exports grew by 68.4%, equating to an average annual increase of 19.0%. The lowest export volume was recorded in 2018 at 1.4 K m³, which also saw the largest decline of 10.3% that year.

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

From 2017 to 2020, China, Indonesia, and Micronesia formed the core group of markets for South Korea's non-coniferous sawnwood exports in volume terms. China accounted for 35.2% of exports, Indonesia for 27.6%, and Micronesia for 16.4%. Together, these three markets represented 79.2% of total export flows.

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, M $ US

South Korea's non-coniferous sawnwood export value increased for the third consecutive year in 2020. The country exported 3.1 M $ US worth of goods, representing an abrupt 27.1% gain from 2019. Over the 2017-2020 period, export value rose by 62.2%, with an average annual growth rate of 17.5%.

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

From 2017 to 2020, Indonesia, China, and Japan were the key partners for South Korea's non-coniferous sawnwood exports in value terms. Indonesia accounted for 53.5% of export value, China for 19.7%, and Japan for 13.5%. Collectively, these three countries represented 86.7% of total export flows.

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 sawnwood to South Korea

Imports in kind, K m³

South Korea's imports of non-coniferous sawnwood declined in 2020, following a two-year advance. Import volume registered 208.3 K m³, constituting a 4.5% year-on-year loss. Over the 2017-2020 period, imports increased by 9.5%, with an average annual growth rate of 3.1%. The highest import volume was recorded in 2019 at 218.1 K m³, which also saw the largest increase of 12.4% that year.

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

From 2017 to 2020, Vietnam, Malaysia, and Brazil were the principal suppliers of non-coniferous sawnwood to South Korea in volume terms. Vietnam accounted for 24.6% of imports, Malaysia for 20.7%, and Brazil for 12.6%. Together, these three suppliers represented 57.9% of total import volume.

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, M $ US

In 2020, South Korea's non-coniferous sawnwood imports stood at 118.6 M $ US, which is 4.0% higher compared to 2019. Between 2017 and 2020, import value increased by 5.9%, equating to an average annual growth rate of 1.9%. The largest decline was recorded in 2019, when import value fell by 1.9%.

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

From 2017 to 2020, Vietnam, China, and the United States were the main sources in the geographical breakdown of South Korea's non-coniferous sawnwood imports in value terms. Vietnam accounted for 24.3% of import value, China for 20.6%, and the United States for 15.2%. Combined, these three countries represented 60.1% of total import flows.

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

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