Wood in the rough market in South-eastern Asia

Earlier Report Observations

The market for wood in the rough in South-eastern Asia underwent a significant shift in volume from 2018 to 2023. Starting at 251.9 million tons in 2018, volume dropped sharply to 199.3 million tons in 2019, a change closely tied to a collapse in imports that year. This import contraction coincided with the clarification of India's Goods and Services Tax rate on wood logs for pulping to 18%, implemented at the end of 2018, which altered tax liabilities and likely affected cross-border trade flows and pricing for the regional market. Following this adjustment, market volume stabilized, showing modest growth to 205.2 million tons by 2021 and remaining around 204 million tons through 2023.

In value terms, the market displayed a different trajectory. After a slight decrease to $66.3 billion in 2019, the market value fell sharply to $54.6 billion in 2020. This was followed by a recovery to $57.5 billion in 2022 and a substantial increase to $72.9 billion by 2023. Regional production remained relatively stable throughout the period, growing gradually from 197.6 million tons in 2018 to 203.3 million tons in 2023.

Production wood in the rough in South-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

Southeast Asia's production of wood in the rough has increased for the third year in a row. In 2020, the region produced 201.1 million tonnes, marking a slight rise of 1.7% compared to 2019. From 2017 to 2020, production grew by 4.9%, with an average annual growth rate of 1.6%.

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

In value, 2017-2020, M $ US

The value of wood in the rough production in Southeast Asia has declined for the second consecutive year. In 2020, output was valued at 54 274 million US dollars, representing a significant drop of 17.7% year-over-year. Between 2017 and 2020, production decreased by 4%, with a compound annual growth rate of 1.4%. The highest value was recorded in 2018 at 66 465 million US dollars, which also saw the largest increase of 17.6%.

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

Exports wood in the rough from South-eastern Asia

Exports in kind, K t

Exports of wood in the rough from Southeast Asia have fallen for the third consecutive year. In 2020, exports totaled 505 thousand tonnes, a sharp decline of 23.1% compared to 2019. From 2017 to 2020, exports decreased by 61.1%, equating to an annualized rate of 27.0%.

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

Between 2017 and 2020, the main buyers of wood in the rough from Southeast Asia were India, accounting for 59.1% of exports in kind, Asia not elsewhere specified at 9.0%, and China with 7.8%. Together, these three markets represented 75.8% of total exports in kind.

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

World map of product's exports from South-eastern Asia in kind, 2017-2020

Exports in value, M $ US

The value of wood in the rough exports from Southeast Asia has declined for the third year in a row. In 2020, exports amounted to 136.4 million US dollars, which is 37.7% lower than the previous year. From 2017 to 2020, exports decreased by 64.4%, with an annualized rate of 29.1%.

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

From 2017 to 2020, the key markets for wood in the rough exports in value terms were India, with 55.3% of exports, China at 11.0%, and Asia not elsewhere specified at 7.7%. Combined, these three accounted for 74.0% of total export flows.

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

World map of product's exports from South-eastern Asia in value, 2017-2020

Imports wood in the rough to South-eastern Asia

Imports in kind, K t

Imports of wood in the rough into Southeast Asia have decreased for the third consecutive year. In 2020, the region imported 1 438 thousand tonnes, a drop of 34.6% compared to 2019. Between 2017 and 2020, imports fell by 98.3%, with a compound annual growth rate of 74.5%.

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

From 2017 to 2020, the geographical structure of imports in kind was highly diversified. The United States accounted for 12.0% of imports, Cameroon for 9.9%, and France for 5.7%, together making up only 27.6% of total flows. The remaining 72.4% was distributed among numerous smaller partner countries.

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

World map of product's imports to South-eastern Asia in kind, 2017-2020

Imports in value, M $ US

The value of wood in the rough imports into Southeast Asia has declined for the third year in a row. In 2020, imports were valued at 495.4 million US dollars, showing a robust fall of 12.0% year-over-year. From 2017 to 2020, imports decreased by 37.2%, with a compound annual growth rate of 14.4%.

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

Between 2017 and 2020, imports in value terms of wood in the rough to Southeast Asia were spread across many countries. Cameroon accounted for 19.8% of imports, the United States for 11.6%, and Congo for 9.7%, jointly representing only 41.0% of total flows.

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

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