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China's timber imports hit 15.8 million m³ in Q1 2023.

Wood BUSINESS & TRADE
In Q1 2023, China imported 15.8 million m³, which is a bit lower than 16.32 million in Q1 2022.

In January before the Spring Festival holiday of 2023, due to low global demand for wood products, the number of wood imports fell annually by 18.2%.

However, imports from February-March increased slightly compared to the same period last year, but January's import volume resulted in a drop of 400000 m³ in the overall timber import volume in Q1.

In March, compared to 2022, the quantity of wood imports was higher, but the overall price was lower. The average import price fell by 72 yuan per cubic yuan.

The low price in many big timber-producing countries influenced the overall drop in timber import volume, such as New Zealand, Germany, and Canada.

At the same time, the prices of imported hardwood maintained an upward trend, the prices of Augustine, birch, and oak did not fluctuate compared to 2022.

With regards to the furniture industry, in January 2023, in the export trade index, prices grew annually by 22.7%, but the value index fell by 4.8% and the quantity index fell by 22.3%.
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