Wood in the rough market in Eastern Asia

Earlier Report Observations

The market for wood in the rough in Eastern Asia reached 335.6 million tonnes in 2018, supported by policies aimed at expanding domestic timber supply. It then contracted to 285.0 million tonnes in 2019. The COVID-19 pandemic disrupted global timber supply chains in 2020, reducing imports but stimulating domestic production and demand, which helped lift the market volume to 292.4 million tonnes. Growth continued into 2021, with the market reaching 298.4 million tonnes as trade adjusted to policy shifts, exchange rate fluctuations, and rising transport costs.

From 2022, the market entered a sustained decline, falling to 282.2 million tonnes that year and 277.0 million tonnes in 2023. This downturn was primarily driven by the construction sector's substitution of wooden formwork with aluminum alternatives, which reduced demand for roundwood, exacerbated by a cooling real estate market. In 2024, facing continued construction weakness and labor shortages, the industry saw the launch of a timber futures market to manage price volatility and the implementation of stricter quality standards alongside policies prioritizing domestic supply.

Production wood in the rough in Eastern Asia

In kind, 2017-2020, M t

Top producers of wood in the rough, 2017-2020

World map of production of wood in the rough, 2017-2020

In 2019, Eastern Asia produced 227.8 million tonnes of wood in the rough, marking the lowest output in recent years. Production then rebounded in 2020 to 238.3 million tonnes, representing a 4.6% increase from the previous year. The highest production level was recorded earlier, in 2018, at 243.8 million tonnes. The most significant year-over-year decline occurred in 2019, when production fell by 6.6%.

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

Exports wood in the rough from Eastern Asia

Exports in kind, K t

The market for wood in the rough exports from Eastern Asia showed considerable volatility during this period. In 2019, exports reached their lowest point at 188,000 tonnes, but then surged dramatically in 2020 to 1,155,000 tonnes—a remarkable 514.3% increase compared to the previous year. The difference between the peak in 2020 and the trough in 2019 was substantial, with volumes in 2020 being 6.1 times higher than in 2019. The most significant decline occurred in 2019, when exports dropped by 80.2%.

Annual dynamics of product's exports from Eastern Asia in kind, 2017-2020, K t

From 2017 to 2020, Vietnam, Asia (not elsewhere specified), and Bangladesh consistently served as the primary destinations for wood in the rough exports from Eastern Asia. Vietnam accounted for 6.3% of total export volumes, followed by Asia (not elsewhere specified) at 5.9%, and Bangladesh at 0.7%. Together, these three markets represented 13.0% of all export flows during this period.

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

In 2019, the value of wood in the rough exports from Eastern Asia stood at $153 million US dollars, which was the lowest point in recent years. By 2020, this figure had risen to $160 million US dollars, reflecting a modest 4.5% increase from the previous year. The peak value was recorded earlier, in 2018, at $161 million US dollars. The most significant decline occurred in 2019, when export values fell by 4.7%.

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

Throughout the 2017–2020 period, Vietnam, Asia (not elsewhere specified), and Bangladesh remained the key markets for wood in the rough exports from Eastern Asia in value terms. Vietnam accounted for 11.5% of total export value, followed by Asia (not elsewhere specified) at 5.9%, and Bangladesh at 1.4%. Collectively, these three destinations represented 18.8% of all export flows by value.

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 wood in the rough to Eastern Asia

Imports in kind, K t

Wood in the rough imports into Eastern Asia declined for the second consecutive year in 2020, totaling 55,326,000 tonnes—a slight decrease of 3.6% from the previous year. Over the broader period from 2017 to 2020, imports fell by 5.1%, averaging an annual decline of 1.7%. The highest import volume was recorded in 2018 at 92,661,000 tonnes. The most significant year-over-year drop occurred in 2019, when imports fell by 38.1%, while the largest increase was in 2018, with a 58.9% rise.

Annual dynamics of product's imports to Eastern Asia in kind, 2017-2020, K t

From 2017 to 2020, New Zealand, Russia, and the United States were the main sources of wood in the rough imports into Eastern Asia. New Zealand accounted for 27.1% of import volumes, followed by Russia at 14.3%, and the United States at 12.1%. Together, these three countries supplied 53.5% of all import flows during this period.

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

Wood in the rough imports into Eastern Asia continued to decline for the second year in a row in 2020, with a total value of approximately $9,339 million US dollars—a 12.0% decrease from the previous year. Over the 2017–2020 period, import values fell by 17.3%, corresponding to an average annual decline of 6.1%. The peak value was recorded in 2018 at $12,404 million US dollars. The most significant year-over-year drop occurred in 2019, with a 14.4% decline, while the largest increase was in 2018, with a 9.8% rise.

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

During the 2017–2020 period, the value of wood in the rough imports into Eastern Asia was relatively evenly distributed among various sources. New Zealand accounted for 22.4% of import value, followed by the United States at 14.1%, and Russia at 10.2%. Together, these three countries represented 46.8% of total import flows by value.

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

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