China's plywood exports fell in the first half
China exported 5.13 million cubic metres of plywood valued at US$2.368 billion in the first half of 2023, down 9% and 20% compared to the same period in 2022, according to China Customs.
China's plywood export markets show diversity, but 50 per cent of exports go to just 10 countries.
The Philippines and the UK are China's two largest markets for plywood, but plywood exports to these two markets fell significantly in the first half of 2023. Exports to the Philippines fell by 7 per cent and to the UK by 18 per cent. This has affected the export performance of the industry as a whole.
The US is no longer the main destination for Chinese exports. Affected by the ongoing trade friction, the first half of China's plywood exports to the U.S. totaled only 143,000 cubic metres, valued at $ 103 million, a year-on-year decline of 39% and 51% respectively.
The number of exports to the Middle East and African countries is a growing trend. China's plywood exports to the United Arab Emirates and Israel rose 11 per cent and 15 per cent respectively in the first half of the year.
Nigeria became China's third largest plywood export market. China's plywood exports to Nigeria in the first half of the year jumped 72 per cent to 291,000 cubic metres valued at US$95 million, up 47 per cent year-on-year.
