Brexit to impact tropical imports in the short term
The UK’s decision to leave the EU, so-called “Brexit”, has created a crisis for the global economy. Brexit will have significant implications on the tropical timber sector. The UK is the largest importer of tropical timber in the EU with around 25% of the total value imported into the EU from tropical countries.
Uncertainty and a slowing of economic growth in the UK and the EU will have an immediate impact on imports of wood products from tropical countries. Longer term, the prospects for tropical timber in the UK and the EU will depend on how quickly the UK and the EU recover from this shock.
Also in this issue
Convergence of factors drives sapele and sipo prices lower
Endorsement for Malaysia’s latest MC&I for forest plantations
Indonesian FLEGT wood products possible by year end
Association says Bolivia’s new import regulations disadvantage Brazilian furniture exporters
Labour shortage hits Chinese manufacturers
Fourth consecutive decline in US hardwood plywood imports
Fall in US plywood Imports
Data Source: US Department of Commerce, US Census Bureau, Foreign Trade Statistics
Lower plywood imports from tropical producers US hardwood plywood imports fell further in April, the fourth consecutive month-on-month decline. Lower plywood imports from China and Indonesia were largely responsible for lower April figures. Year-to-date plywood imports from Malaysia were down 21%.