Wood in the rough market in Northern America

Earlier Report Observations

From 2018 to 2020, production and market volume of wood in the rough in Northern America declined, with output falling from 403.6 million tonnes to 371.7 million tonnes. This downturn coincided with the U.S.-China trade war that began in 2018, whose tariffs reduced demand for U.S. raw wood materials, particularly affecting export markets.

A recovery followed in 2021 and 2022, with production rising to 391.3 million tonnes and market volume reaching 389.0 million tonnes, near pre-decline levels.

A sharp contraction occurred in 2023, as production dropped to 328.3 million tonnes and market size fell to 326.7 million tonnes. The Federal Reserve's monetary tightening that started in 2023 dampened housing market activity, reducing demand for wood products. Simultaneously, permanent closures of production facilities, including several Pacific Northwest lumber mills, constrained supply. Weather disruptions like wildfires and hurricanes, alongside ongoing global trade factors, further contributed to market volatility and supply chain pressures during this period.

Production wood in the rough in Northern America

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

Wood in the rough production in Northern America declined for the second consecutive year. In 2020, 371.7 million tonnes were produced, representing a moderate contraction of 4.8% compared to the previous year. Over the period from 2017 to 2020, production decreased by 4.3%, with a compound annual growth rate of -1.5%. The highest production level was recorded in 2018 at 403.6 million tonnes, which also saw the largest annual increase of 3.9%.

Annual dynamics of production in Northern America in kind, 2017-2020, M t

Exports wood in the rough from Northern America

Exports in kind, K t

The market exhibited significant volatility during these years. Export volumes reached their lowest point in 2017 and peaked in 2019, with a 122-fold difference between these extremes. In 2020, Northern America exported 2,674 thousand tonnes of wood in the rough, marking a sharp decline of 45.8% compared to 2019. The maximum export volume was recorded in 2019 at 4,936 thousand tonnes, while the largest percentage increase occurred in 2018 at 2,723.1%.

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

From 2017 to 2020, China, Japan, and South Korea consistently formed the core export markets for wood in the rough. China accounted for 50.8% of exports in kind, Japan for 20.4%, and South Korea for 8.1%. Together, these three countries represented 79.3% of total export flows during this period.

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

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

Exports in value, M $ US

The market demonstrated notable volatility throughout the observed period. Export values varied significantly, with the lowest point in 2017 and the highest in 2018, showing a 22-fold difference between these years. In 2020, Northern America exported 347.7 million US dollars worth of wood in the rough, down by 43.1% year-over-year. The peak export value was recorded in 2018 at 683.6 million US dollars, which also saw the largest percentage increase of 2,068.0%.

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

Throughout 2017–2020, China, Japan, and South Korea remained the primary destinations for exports in value terms. China accounted for 47.2% of export value, Japan for 21.2%, and South Korea for 7.4%. Collectively, these three markets represented 75.7% of total export value flows during this timeframe.

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

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

Imports wood in the rough to Northern America

Imports in kind, K t

The import market showed considerable volatility during these years. Import volumes reached their lowest point in 2019 and peaked in 2017, with a 10.7-fold difference between these extremes. In 2020, Northern America imported 1,132 thousand tonnes of wood in the rough, representing a substantial increase of 345.4% compared to 2019. The minimum import volume was recorded in 2019 at 254 thousand tonnes, which also saw the largest percentage decline of 88.1%.

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

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

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

Imports in value, M $ US

The data reveals irregular fluctuations, indicating a volatile market environment. Import values showed the lowest point in 2017 and the highest in 2018, with a peak-to-trough ratio of 2.7 times. In 2020, Northern America imported 258.2 million US dollars worth of wood in the rough, representing a significant drop of 13.9% relative to the prior year. The maximum import value was recorded in 2018 at 318.5 million US dollars, which also saw the largest percentage increase of 172.5%.

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

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

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