Market Information Service

Towards greater transparency in the tropical timber markets

The ITTO Tropical Timber Market (TTM) Report, an output of the ITTO Market Information Service (MIS), is published in English every two weeks with the aim of improving transparency in the international tropical timber market. The TTM provides market trends and trade news from around the world, as well as indicative prices for over 400 tropical timber and added-value products.



16-31 March 2016

Top story

Gabon introduces restrictions on air dry sawnwood exports

Gabon will introduce regulations limiting the export of air dry sawnwood. It is understood that by mid-April a list of species will be issued detailing those included in the new regulation.
Reports say that okoume is to be included. It is also understood that ozingo has been removed from the list of timbers that can be traded but the felling ban on douka and kevazingo remains.  It appears the government intends to propose kevazingo for CITES listing.

Also in this issue

  • West African producers see up-tick in interest from buyers for the Chinese market
  • Opening doors to private sector investments in Africa’s largest trading block
  • Regional markets to be foundation of Malaysia’s 2016 exports
  • U Ohn Win named Minister of Forestry in Myanmar
  • Forestry appointments in Myanmar suggest policy shift
  • Brazilian timber industry takes advantage of falling real to increase exports
  • Cheap money pouring into the Japan’s housing market
  • Encouraging housing data in China but has the corner been turned?
  • Improving demand for wooden furniture in the EU    

Data snapshot

Unchecked decline in Nigeria’s construction sector

Data source: Nigeria National Bureau of Statistics

Nigerian construction to get a boost from increased government capital expenditure

The construction sector in Nigeria is a major consumer of wood products so activity in this sector is key for exporters of wood products.
According to the Nigerian National Bureau of Statistics (NBS), the construction industry expanded by 4.4% in 2015, down sharply from the 13% growth recorded in the previous year.  Looking at the industry’s performance on a quarterly basis raises yet more concerns. The construction industry contracted by 0.35% y-o-y in Q4 2015, marking the second consecutive quarter of negative growth.
Despite the poor performance in recent months, the industry may find support in the shape of increased fiscal capital expenditure. The 2016 fiscal budget has dedicated roughly 30% of the total spending envelope to capital expenditure.

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