Wood in the rough market in Finland

Earlier Report Observations

The Finnish wood in the rough market opened the period at a high of 49 370 thousand tons in 2018, supported by strong demand for all timber assortments and low industrial stockpiles, though global economic uncertainty began affecting the sector. The market volume then contracted to 42 440 thousand tons in 2019 before a modest recovery to 43 755 thousand tons in 2020.

A significant surge to 48 212 thousand tons occurred in 2021, primarily driven by the record-scale salvage logging of beetle-damaged wood from 2018-2021, which drastically increased timber supply. This period also saw wood prices rise by 15-20% and a collapse in imports, shifting procurement almost entirely to domestic sources.

Market volume declined to 43 941 thousand tons in 2022 as supply became more concentrated and market-sensitive, with uncertainty heightened by the war in Ukraine. Sanctions against Russia pushed pulpwood prices up by approximately 42%, affecting demand. By 2023, the market fell further to 42 351 thousand tons as prices and availability normalized post-peak, and demand patterns shifted while investments in new sawmill capacity continued with all mills operating at full capacity.

Production wood in the rough in Finland

In kind, 2017-2020, K t

From 2017 to 2020, Finland ranked 12th globally in the production of wood in the rough.

Top producers of wood in the rough, 2017-2020

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

Finland's production of wood in the rough declined for the second year in a row. In 2020, the country produced 39 076 K t, marking a 5.6% decrease from the previous year. Over the 2017-2020 period, production fell by 5%, with an average annual decline of 1.7%. The highest production level was in 2018 at 44 388 K t, which saw a 7.9% increase. The largest drop occurred in 2019, with a 6.7% decrease.

Annual dynamics of production in Finland in kind, 2017-2020, K t

Exports wood in the rough from Finland

Exports in kind, K t

In 2020, Finland exported 1 000 K t of wood in the rough, a 34.2% rise compared to the previous year. From 2017 to 2020, exports grew by 21%, averaging 6.6% per year. The lowest export volume was in 2019 at 745 K t, which represented a 45.2% decline. The peak was in 2018 at 1 358 K t, showing a 64.4% increase.

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

Between 2017 and 2020, Sweden accounted for 74.9% of Finland's total exports of wood in the rough by volume, with the remainder distributed among numerous other countries, each holding smaller shares.

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

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

Exports in value, M $ US

Finland's exports of wood in the rough in monetary terms decreased for the second consecutive year. In 2020, exports totaled 106.3 M $ US, down 10.4% year-over-year. Over the 2017-2020 period, exports increased by 13.7%, equivalent to an average annual growth of 4.4%. The highest value was recorded in 2018 at 131.2 M $ US, which saw a 40.3% increase.

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

From 2017 to 2020, the main markets for Finland's wood in the rough exports by value were Sweden, with 53.2% of exports, the United Kingdom at 7.5%, and Egypt at 5.8%. Together, these three countries accounted for 66.6% of total export flows.

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

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

Imports wood in the rough to Finland

Imports in kind, K t

The market for wood in the rough imports into Finland showed significant volatility during this period. The lowest volume was in 2019 at 1 790 K t, which saw a 71.8% decline. The highest was in 2018 at 6 340 K t, with the difference between these years being 3.5 times. In 2020, imports reached 5 679 K t, a substantial increase of 217.3% compared to the previous year.

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

From 2017 to 2020, Russia was the dominant supplier of wood in the rough to Finland, making up 73.3% of total imports by volume, while other countries shared the remaining portion.

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

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

Imports in value, M $ US

Finland's imports of wood in the rough in monetary terms experienced notable fluctuations from 2017 to 2020. The lowest value was in 2017, and the peak occurred in 2018 at 457.2 M $ US, which saw a 90.2% increase. The difference between these years was 1.9 times. In 2020, imports amounted to 324.5 M $ US, a moderate decrease of 8.7% from 2019. The largest decline was in 2019, with a 22.2% drop.

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

Between 2017 and 2020, Russia dominated Finland's imports of wood in the rough by value, accounting for 70.0% of total flows, with a variety of other countries contributing smaller shares.

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

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