Lumber import prices have fallen for three consecutive quarters to average $174/m3 in the 3Q/19, the lowest level since 2016. Imports from Canada rose 18% y-o-y and import volumes more than doubled from a few smaller suppliers this past year, including Germany, Ukraine and Belarus. Russia supplied 60% of the import volume to China in the 3Q/19, a slight decline from the 3Q/18.Importation has trended upward for over five years.
China imported 15% more softwood lumber in the first nine months of 2019 than during the same period in 2018.Only in the US Northwest, where log supply has been tight and demand for lumber along the US west coast has stayed healthy, did lumber prices move up from their lower prices early in the year. Russia is the world’s leading exporter of gas, exporting 201.7 billion cubic meters of gas via pipelines in 2021, and 39.6 billion cubic meters of liquefied. Prices for softwood lumber were quite stable during the summer and fall in three of the four major lumber-producing regions of North America.All the major lumber-producing companies in British Columbia have taken downtime this fall, causing production to plummet 19% in 2019.From January to September in 2019, lumber exports from Canada were down 5% y-o-y, while US shipments fell as much as 23%. Lumber production has fallen in both the US and Canada in 2019 because of disappointingly low activity in the US housing market and meagre demand for North American lumber in overseas markets.Of the world’s ten leading exporting countries, Russia, Belarus, Germany and Finland have boosted their lumber sales the most this year. Volume traded during the first nine months of 2019 represented the second lowest y-o-y increase for the period in eight years, according to the WRQ.Despite slowing economies in North America, Europe and Asia, lumber imports to these markets were higher in 2019 than in 2018. Russia has surpassed Canada to become the world’s largest exporter of softwood lumber, and was on track to ship almost 32 million m3 of lumber in 2019 (23% of globally traded lumber this year).An excerpt from the newly released market report Wood Resource Quarterly reads. Russia, Belarus, Germany and Finland have boosted their lumber sales the most this year, reports the WRQ. Global trade of softwood lumber slowed in the 3Q/19 but was still on pace to be higher than in 2018. The trade dispute between the US and China and a stronger protectionism around the world is likely to continue to restrain recovery of global trade, the WTO report mentioned.Russia has surpassed Canada to become the world’s largest exporter of softwood lumber, and was on track to ship almost 32 million m3 of lumber in 2019 (23% of globally traded lumber in 2019), reports the Wood Resource Quarterly in its latest issue. Korea’s exports declined 5.5 percent last year, but the decline was modest compared to other major economies like Germany, Japan and the US, which posted export falls of 7.3 percent, 9.1 percent and 12.9 percent in order. In terms of annual export growth, China remained robust with a 3.7 percent growth last year, followed by Hong Kong with 2.6 percent and the Netherlands with a contraction of 4.8 percent. Korea remained in the $500 billion club.īut in total trade volume, Korea failed to join the $1 trillion club last year. The number of countries that exceeded $500 billion in exports fell from nine in 2019 to seven last year. The world’s 10 biggest economies all showed declines in their exports last year, due to the COVID-19 impact, the WTO data showed. Chip exports grew 5.6 percent to $99.1 billion, marking the second biggest exports since 2018.Ĭomputer exports surged 57.2 percent on-year, showing the highest growth since 1999.īiopharma products exports surpassed $10 billion for the first time under the pandemic. Robust exports of semiconductors, computers, biopharmaceutical products and lithium-ion batteries contributed to the trade surplus. It obtained a $45.6 billion surplus in trade balance for 12 consecutive years. Korea came in ninth in total trade volume with a 3 percent share, unchanged from 2019, too.Īccording to the Korean Ministry of Trade, Industry and Energy, the country recorded $512.8 billion in exports and $467.2 billion in imports in 2020. Despite the fallout from the ongoing trade dispute and COVID-19 pandemic, South Korea retained its position as the world’s seventh-largest exporter in 2020, showed data released by the World Trade Organization on Sunday.Īccording to the WTO report on trade trends of major economies in 2020, Korea’s ranking in global trade was in seventh place last year, unchanged from the previous year.Īsia’s fourth largest economy accounted for 3.1 percent of world exports, following China (15.8 percent), the United States (8.8 percent), Germany (8.4 percent), the Netherlands (4.1 percent), Japan (3.9 percent) and Hong Kong (3.4 percent).
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