German timber exports to China fall in January-August
From January to August this year, Germany's timber exports to China fell 25.7% year-on-year, totalling 3.349 million cubic metres. The amount was down 41.8 per cent year-on-year, totalling $3.92 billion. The volume of logs decreased by 33% year-on-year, totalling 2.74 million cubic metres. The quantity of sawn timber increased by 53.8% year-on-year, totalling 600,000 cubic metres.
From the import data of the past five years, it can be seen that from 2020 to 2021, Germany's timber exports to China began to "surge", and even in 2021, log exports accounted for 95 per cent. Until 2022, the surge trend only gradually disappeared.
In August this year, Germany's timber exports to China continued to hit a new record, only 212,000 cubic metres. Currently, Germany's domestic logging industry has not yet recovered to the level of the beginning of the year. German exports to the Chinese market are expected to remain low in the fourth quarter of 2023.
From the price point of view, from January to August this year, the average price of German timber imports was about 1,248 yuan per cubic metre, the highest level in the same period in the past five years. The average price of beech wood imports in August was about 2,212 yuan / cubic metre, up 16% from the previous year. According to last year's price trend, the fourth quarter of the German beech wood still has about 150-300 yuan of upside.
In addition, after the Russia-Ukraine dispute, Germany replaced Russia as one of the main timber suppliers to the EU. This also means that even in 2024 after the German timber industry logging resumed, its timber exports to China will not appear again "surge", the overall price change will not be too obvious.
