Roundwood coniferous market in New Zealand

Earlier Report Observations

The domestic market volume for coniferous roundwood in New Zealand declined from 14 457 thousand cubic meters in 2018 to 11 084 thousand cubic meters in 2023. This contraction was initially driven by export-oriented policies, as progressive quota increases for log shipments to China redirected supply away from the domestic market.

External shocks significantly impacted the market: the COVID-19 pandemic in 2020 reduced production and demand, while the Russian log export ban in 2022 and slowing Chinese construction activity introduced further volatility. A brief recovery in 2021 was limited by global trade restrictions and falling international prices.

Underlying these shifts, New Zealand's forestry expanded its planted area, with new planting reaching 70 thousand hectares in 2022, but the sector remained constrained by a lack of value-added processing capacity, maintaining dependence on raw log exports.

Production coniferous roundwood in New Zealand

In kind, 2018-2021, K m³

From 2018 to 2021, New Zealand ranked 9th globally in the production of coniferous roundwood.

Top producers of coniferous roundwood, 2018-2021

World map of production of coniferous roundwood, 2018-2021

Following a two-year decline, New Zealand's coniferous roundwood production volume increased. In 2021, the country produced 35 167 K m³ of coniferous roundwood, marking a 10.4% rise compared to 2020. The lowest production level was recorded in 2020 at 31 860 K m³, which also saw the largest decline of 10.4%.

Annual dynamics of production in New Zealand in kind, 2018-2021, K m³

In value, 2018-2021, M $ US

After a two-year drop, New Zealand's coniferous roundwood production value increased. In 2021, the output was valued at 4 394 M US dollars, representing a 39.4% year-over-year growth. Over the 2018-2021 period, production value rose by 6.4%, with a compound annual growth rate (CAGR) of 2.1%. The minimum value occurred in 2020 at 3 151 M US dollars, which also experienced the largest decline of 15.4%.

Annual dynamics of production in New Zealand in value, 2018-2021, M $ US

Exports coniferous roundwood from New Zealand

Exports in kind, K m³

In 2021, New Zealand exported 22 471 K m³ of coniferous roundwood, up 15.8% from the previous year. Between 2018 and 2021, exports grew by 5.8%, equivalent to an annualized rate of 1.9%. The lowest export volume was recorded in 2020 at 19 409 K m³, which also saw the largest decline of 9.5%.

Annual dynamics of product's exports from New Zealand in kind, 2018-2021, K m³

From 2018 to 2021, New Zealand's coniferous roundwood exports in kind were heavily concentrated on China, which accounted for 82.6% of total flows, with other countries making up the remaining share.

Structure of product's exports in kind by countries, 2018-2021

World map of product's exports from New Zealand in kind, 2018-2021

Exports in value, M $ US

Following a two-year decrease, New Zealand's coniferous roundwood export value increased. In 2021, exports totaled 2 808 M US dollars, showing a sharp rise of 46.3% compared to the previous year. Between 2018 and 2021, export value grew by 14.3%, equating to an annualized rate of 4.6%. The minimum value was recorded in 2020 at 1 920 M US dollars, which also experienced the largest decline of 14.5%.

Annual dynamics of product's exports from New Zealand in value, 2018-2021, M $ US

From 2018 to 2021, China was the dominant buyer of coniferous roundwood from New Zealand, accounting for 82.7% of total exports in value terms, while other countries shared the remaining volume.

Structure of product's exports in value by countries, 2018-2021

World map of product's exports from New Zealand in value, 2018-2021

Imports coniferous roundwood to New Zealand

Imports in kind, K m³

Import levels showed significant volatility during these years. The lowest import volume was recorded in 2018, while the highest occurred in 2021, with a 1 422-fold difference between these years. In 2021, New Zealand imported a total of value_last_year K m³ of coniferous roundwood, marking a steep gain of 9 135.0% compared to the previous year. The largest decline was recorded in 2020 at 1.5%.

Annual dynamics of product's imports to New Zealand in kind, 2018-2021, K m³

In the 2018-2021 period, the geographical pattern of imports in kind reflected a strong dependence on Uruguay, which absorbed 97.7% of total flows.

Structure of product's imports in kind by countries, 2018-2021

World map of product's imports to New Zealand in kind, 2018-2021

Imports in value, M $ US

Market behavior was characterized by volatility during these years. The highest value stood at 1 M US dollars in 2019, while the lowest occurred in 2018, with a peak-to-trough ratio of 4.2 times. In 2021, coniferous roundwood shipments to New Zealand from abroad amounted to 0.2 M US dollars, equivalent to a drop of 4.2% compared to 2020. The largest decline was recorded in 2020 at 72.0%, and the largest increase occurred in 2019 at 318.8%.

Annual dynamics of product's imports to New Zealand in value, 2018-2021, M $ US

From 2018 to 2021, Australia and Chile together accounted for 84.7% of total imports in value terms, with other countries forming a diversified but less significant tail.

Structure of product's imports in value by countries, 2018-2021

World map of product's imports to New Zealand in value, 2018-2021