GTI: Ghana stands out among May’s global timber winners

Operations at the Logs and Lumber Limited, Ghana. Photo: Peter Zormelo

The timber sector in Ghana, China and other key countries posted further growth in May, even as others including Brazil and Malaysia remained in the doldrums, according to the latest Global Timber Index (GTI) report.

The ITTO-supported GTI, which tracks the performance of the timber sector in pilot countries, stood at 66.8% for Ghana, the fifth consecutive positive monthly reading, indicating strong activity. The GTIs for China and Mexico were at 58.5% and 50.2%, respectively, both above the 50% threshold for the third consecutive months.

However, the readings for Gabon (46.2%), Thailand (46.2%), the Republic of the Congo (42.7%), Brazil (32.2%), and Malaysia (23.9%) remained in contraction territory, suggesting an overall decline in the timber business in those countries.

Positive signs were also evident in some country sub-indices. For example, harvesting volume in Ghana and Mexico rose for the third consecutive month; production volume in Gabon increased significantly compared to the previous month, coupled with lower inventory pressure; Thailand's domestic market improved; and China saw a third month of growth in export orders.

In May, the GTI-Woodbased Panel Index, a specialized index for wood-based panels, stood at 50.5%, suggesting overall stability in the subsector. However, the GTI-Producers Index, a specialized index for timber production, was at 39.1%, indicating weakness in that area.

The May GTI report also contains a roundup of market developments, including the classification of countries by deforestation risk under the EU Deforestation Regulation (EUDR). Among the GTI pilot countries, Brazil, Indonesia, Malaysia and Mexico are in the standard risk category under the EUDR, while China, Gabon, Ghana and the Republic of the Congo are identified as low risk.

The report also describes moves by countries including Brazil and Malaysia to strengthen origin monitoring measures in response to U.S. tariff policies.

In its series of case studies on good practice for legal and sustainable timber trade, the May report showcases Gabon’s integrated export strategy.

The monthly GTI Report, GTI-Producers Report and GTI-WBP Report are available free at www.itto.int/gti.