Wood in the rough market in Spain

Earlier Report Observations

The market for wood in the rough in Spain, measured in volume, contracted significantly from 11 507 K t in 2018 to 9 405 K t in 2020, before beginning a recovery to 9 687 K t in 2021. In value terms, the market followed a similar pattern, declining from $1 137 M US in 2018 to $842 M US in 2020.

A pronounced rebound occurred in 2022, with market volume growing to 10 292 K t. This expansion was propelled by record-breaking timber harvests in the Galicia region, driven by high demand and rising prices for coniferous wood. The global energy crisis, intensified by the war in Ukraine, further bolstered demand for wood as a raw material for pellet production.

Market volume stabilized at a high level of 10 401 K t in 2023. Harvesting activity moderated but remained robust, while a temporary surge in supply resulted from the salvage logging of timber in forests damaged by the widespread wildfires of 2022. Concurrently, a downward trend in pellet prices after the 2022 peak contributed to a decline in the market's total value to $867 M US, even as physical volume increased.

Production wood in the rough in Spain

In kind, 2017-2020, K t

Top producers of wood in the rough, 2017-2020

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

Spain's production of wood in the rough has declined for the second year in a row. In 2020, the country produced 10 323 K t, marking a 6.7% decrease from the previous year. Looking at the period from 2017 to 2020, overall production fell by 6.1%, with an average annual decline of 2.1%. The highest production level was recorded in 2018 at 12 326 K t, which represented a 12.1% increase from the prior year. The most significant drop occurred in 2019, when production fell by 10.2%.

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

In value, 2017-2020, M $ US

In 2020, the value of wood in the rough production in Spain reached 916 M $ US, showing a slight increase of 0.9% compared to 2019. Over the four-year span from 2017 to 2020, however, production value decreased by 12.6%, averaging an annual decline of 4.4%. The lowest value was recorded in 2019 at 907 M $ US, following a sharp 23.6% drop from the previous year. In contrast, the peak value occurred in 2018 at 1 189 M $ US, which was a 13.4% rise from 2017.

Annual dynamics of production in Spain in value, 2017-2020, M $ US

Exports wood in the rough from Spain

Exports in kind, K t

After two years of growth, Spain's exports of wood in the rough declined in 2020. That year, exports totaled 1 516 K t, a modest decrease of 2.4% from 2019. From 2017 to 2020, exports overall increased by 36.8%, with an average annual growth rate of 11.0%. The highest export volume was recorded in 2019 at 1 554 K t, which saw a substantial 19.3% increase from the previous year.

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

Between 2017 and 2020, Portugal was the leading destination for Spain's wood in the rough exports in volume terms, accounting for 70.9% of total flows. Other markets made up the remainder, forming a diverse group of smaller partners.

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

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

Exports in value, M $ US

Spain's wood in the rough exports have increased for the third consecutive year. In 2020, export value amounted to 134.5 M $ US, reflecting a moderate rise of 5.6% compared to 2019. Over the period from 2017 to 2020, exports grew by 27.3%, with an average annual growth rate of 8.4%.

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

From 2017 to 2020, Portugal and France were the key partners for Spain's wood in the rough exports in value terms, together representing 92.0% of total flows. Other countries accounted for the remaining share.

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

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

Imports wood in the rough to Spain

Imports in kind, K t

Spain's imports of wood in the rough have risen for the third year in a row. In 2020, imports reached approximately 598 K t, a significant increase of 14.8% from the previous year. Between 2017 and 2020, imports grew by 37%, with an average annual growth rate of 11.1%.

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

During the period from 2017 to 2020, France and Portugal were the dominant suppliers of wood in the rough to Spain in volume terms, together accounting for 95.4% of total imports. Other partners played a less prominent role.

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

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

Imports in value, M $ US

Spain's imports of wood in the rough have declined for the second consecutive year. In 2020, import value stood at 60.4 M $ US, showing a notable reduction of 12.3% compared to 2019. Over the four years from 2017 to 2020, imports decreased by 12.4%, with an average annual decline of 4.3%. The highest import value was recorded in 2018 at 74.0 M $ US, which represented a 7.3% increase from the previous year.

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

From 2017 to 2020, France, Portugal, and the United States were the primary suppliers of wood in the rough to Spain in value terms. France accounted for 51.7% of imports, Portugal for 22.7%, and the United States for 6.2%, together making up 80.6% of total import value.

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

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