Wood in the rough market in Western Europe

Earlier Report Observations

Between 2018 and 2020, the market volume for wood in the rough declined from 111.2 million metric tons to 102.7 million metric tons. This contraction was influenced by a growing export orientation, particularly of raw wood to China, which reduced domestic availability. In 2020, a record volume of damaged timber, the highest since 1990, increased harvest levels, but the COVID-19 pandemic caused demand fluctuations and further export growth, contributing to the market contraction.

In 2021, the market rebounded sharply to 117.5 million metric tons. Surging domestic and international demand, combined with supply chain disruptions and raw material shortages, drove this expansion. Producer prices for processed wood rose significantly, while raw wood prices increased moderately, reflecting the tight market conditions.

From 2022 to 2023, market volume fell again, reaching 100.3 million metric tons in 2023. A reduced supply of beetle-damaged timber constrained production, and the war in Ukraine exacerbated supply difficulties and price pressures. Hedge funds entered the market, adding to price volatility. Despite lower volumes, the market value rose to 17.6 billion US dollars in 2023 due to substantial price increases, especially for sawn wood.

Production wood in the rough in Western Europe

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

In Western Europe, wood in the rough production reached 101.3 million tonnes in 2020, showing a modest year-on-year increase of 0.7%. Over the 2017-2020 period, production grew by 5.8%, with a compound annual growth rate of 1.9%. The highest production level was recorded in 2018 at 101.8 million tonnes, which represented a 6.3% increase that year. In contrast, 2019 saw the largest decline of 1.1%.

Annual dynamics of production in Western Europe in kind, 2017-2020, M t

In value, 2017-2020, M $ US

Western Europe's wood in the rough production value declined for the second consecutive year in 2020, reaching $13,154 million USD, a 2.8% decrease from 2019. Between 2017 and 2020, production value fell by 4.2%, equivalent to an annualized decline of 1.4%. The peak value occurred in 2018 at $15,403 million USD, marking a 12.2% increase that year. The most significant drop was recorded in 2019 with a 12.1% decrease.

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

Exports wood in the rough from Western Europe

Exports in kind, K t

Wood in the rough exports from Western Europe increased for the third consecutive year in 2020, reaching 14,311 thousand tonnes, a 20.8% rise compared to the previous year. From 2017 to 2020, exports grew by 72.8%, translating to an annualized growth rate of 20.0%.

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

Between 2017 and 2020, wood in the rough exports from Western Europe showed a diversified destination pattern. China accounted for 26.8% of exports in kind, Italy for 7.8%, and Vietnam for 2.7%. Together, these three countries represented just 37.3% of total export flows, indicating a broad distribution across multiple markets.

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

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

Exports in value, M $ US

Foreign wood in the rough supplies from Western Europe increased for the third consecutive year in 2020, totaling $1,858 million USD, a 16.6% increase from 2019. Over the 2017-2020 period, export value grew by 56.5%, with an annualized growth rate of 16.1%.

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

The country composition of wood in the rough exports in value terms from 2017 to 2020 was highly dispersed. China held 33.8% of export value, Italy 7.9%, and Vietnam 4.3%. Combined, these three countries accounted for only 46.0% of total flows, with the remaining 54.0% distributed among a wide range of other destinations.

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

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

Imports wood in the rough to Western Europe

Imports in kind, K t

Western Europe's wood in the rough imports declined for the second consecutive year in 2020, reaching 15,724 thousand tonnes, a 6.8% decrease from the previous year. Over the 2017-2020 period, imports fell by 10.2%, with a compound annual decline rate of 3.5%. The highest import volume was recorded in 2018 at 18,672 thousand tonnes, representing a 6.6% increase that year. The largest decline occurred in 2019 with a 9.6% drop.

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

The partner structure for wood in the rough imports in kind to Western Europe from 2017 to 2020 remained fragmented. Czechia accounted for 29.0% of imports in kind, Poland for 8.9%, and Slovenia for 4.8%. Together, these three countries represented only 42.8% of total import flows, with no single country achieving a dominant share.

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

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

Imports in value, M $ US

Wood in the rough deliveries to Western Europe declined for the second consecutive year in 2020, reaching $1,635 million USD, a modest 3.6% decrease from 2019. Between 2017 and 2020, import value fell by 14.5%, with a compound annual decline rate of 5.1%. The peak value was recorded in 2018 at $2,062 million USD, marking a 7.9% increase that year. The most significant decline occurred in 2019 with a 17.8% drop.

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

From 2017 to 2020, Western Europe's wood in the rough imports in value terms came from a broad portfolio of suppliers. Czechia accounted for 25.5% of import value, Poland for 7.5%, and Slovenia for 5.6%. Together, these three countries contributed only 38.5% of total import value, while many other countries held smaller but notable shares.

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

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