Wood in the rough market in the United States

Earlier Report Observations

The US market for wood in the rough grew from 277.4 million metric tons in 2018 to a peak of 287.7 million metric tons in 2022, influenced by shifting trade and monetary conditions. In the initial period, retaliatory tariffs during the US-China trade war reduced export demand for raw wood, while favorable weather and firm housing prices in some regions supported domestic market stability and contributed to growth in 2019. This expansion was reversed in 2020 when the Federal Reserve began tightening monetary policy, suppressing housing construction and leading to a decline in market volume.

Market volume recovered in 2021 and continued a modest rise through 2022, reaching its highest point for the period. This occurred despite ongoing headwinds from monetary policy and reported closures of lumber production facilities in the Pacific Northwest, which reflected supply-side pressures within the industry.

A sharp contraction followed in 2023, with the market volume falling to 245.6 million metric tons. This drop coincided with a rapid increase in wood prices driven by seasonal demand, weather-related impacts on operations, and global trade factors including tariffs and regulatory changes affecting wood harvesting and transport, which constrained supply.

Production wood in the rough in the United States

In kind, 2017-2020, M t

From 2017 to 2020, the United States held the top position 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

The United States experienced a decline in wood in the rough production for the second year in a row. In 2020, production reached 279.0 M t, marking a moderate decrease of 6.5% compared to 2019. Over the period from 2017 to 2020, production fell by 2.6%, which translates to an annualized rate of 0.9%. The highest production level was recorded in 2018 at 301.7 M t, with the largest increase of 5.3% also occurring that year.

Annual dynamics of production in the United States in kind, 2017-2020, M t

Exports wood in the rough from the United States

Exports in kind, K t

The data shows irregular fluctuations, pointing to a volatile market environment. Export volumes varied significantly, with a 6.7-fold difference between the low in 2017 and the high in 2018. In 2020, the United States exported 12 588 K t of wood in the rough, up by 1.1% from 2019. The peak export volume was recorded in 2018 at 24 855 K t. The largest decline occurred in 2019, dropping by 49.9%, while the largest increase was in 2018, surging by 565.0%.

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

During 2017–2020, China, Japan, and Canada formed the core group of markets for exports in kind. China accounted for 47.0% of exports, Japan for 19.6%, and Canada for 17.2%, together representing 83.9% of total export flows.

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

World map of product's exports from the United States in kind, 2017-2020

Exports in value, M $ US

After two years of growth, wood in the rough exports from the United States declined. In 2020, the export value amounted to 1 619 M $ US, reflecting a moderate decrease of 3.4% year-over-year. From 2017 to 2020, exports increased by 87.3%, with a compound annual growth rate (CAGR) of 23.3%. The highest value was recorded in 2019 at 1 676 M $ US, and the largest increase occurred in 2018, rising by 39.6%.

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

From 2017 to 2020, China, Canada, and Japan consistently remained the main destinations for exports in value terms. China accounted for 50.2% of exports, Canada for 15.8%, and Japan for 15.5%, together making up 81.4% of total export flows.

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

World map of product's exports from the United States in value, 2017-2020

Imports wood in the rough to the United States

Imports in kind, K t

The United States saw an increase in wood in the rough import volume for the second consecutive year. In 2020, imports totaled 1 000 K t, up by 28.4% compared to 2019. Between 2017 and 2020, imports grew by 41.9%, equating to an annualized rate of 12.4%. The lowest import volume was recorded in 2018 at 567 K t, with the largest decline of 22.5% occurring that year. The largest increase was in 2019, rising by 42.7%.

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

From 2017 to 2020, Canada and Sweden dominated the imports in kind, jointly accounting for 96.8% of total flows, while other countries represented the remaining share.

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

World map of product's imports to the United States in kind, 2017-2020

Imports in value, M $ US

Cross-border shipments of wood in the rough to the United States increased for the third year in a row. In 2020, imports amounted to 155 M $ US, reflecting a gain of 6.5% from 2019. Over the period from 2017 to 2020, imports surged by 424.1%, with a compound annual growth rate (CAGR) of 73.7%.

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

From 2017 to 2020, Canada consistently accounted for 77.3% of total imports in value terms, indicating a high concentration on this market, with the rest distributed among other countries.

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

World map of product's imports to the United States in value, 2017-2020