UK timber imports experienced a decrease in volumes during the first quarter of 2024 compared to the same period in 2023, according to the latest statistics from Timber Development UK (TDUK). However, prices for many timber and panel products have remained relatively stable over recent months.
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In Q1, import volumes were approximately 150,000m3 lower than the previous year. Although January and February saw similar volume levels, March witnessed a 6.2% reduction. Most product types saw a decline in volume, except for hardwood plywood, which increased by 1% in Q1 2024 compared to Q1 2023.
Despite the recent decrease, changes in import volumes have largely stabilized following economic disruptions caused by Brexit, Covid, and ongoing conflicts in Europe between 2020 and 2023.
Import prices for softwood, hardwood, and plywood have largely stabilized in recent months, returning closer to pre-Covid and pre-Brexit levels. Despite slight fluctuations in 2023, average monthly imported softwood and hardwood prices remained relatively steady, while plywood prices were more volatile but have also stabilized in early 2024.
Looking ahead, there's a call for the upcoming government to prioritise housebuilding and construction to drive economic recovery.
Source: www.furnitureproduction.net
