China: Forestry output totalled US$1.17tn worth of value

Image: Liam Pozz/Unsplash

According to a statement at a recent national conference in China, the output value of China’s national forest industry in 2022 totalled RMB8.04tn (US$1.17tn). The country is now among the world’s leading players in terms of the scale and growth rate of its forestry industry.

China has continuously expanded the range of its forest products. At present there are over 10,000 different kinds of wood and bamboo products available across the country. China has meanwhile planted over 6.67 million hectares of bamboo.

With an annual output value approaching $320bn, the country’s bamboo sector has helped over 15 million people working in the industry to earn annual per capita income of more than $10,000.

Over the past 10 years China has planted 40 million hectares of commercial forests with the output value of commercial forestry products surpassing $2.2tn, more than twice that of a decade ago.

China has pursued the high-quality development of its forest. The annual output value of the three major sub-sectors of the forest industry, wood and bamboo, commercial forest products and forest-related tourism has come to exceed over $1tn.

Furthermore, domestic demand picked up after China has reopened their borders and relaxed quarantine measures, as well as launched real estate stimulus policies.

According to the Global Timber Index (GTI) released in December 2022, China’s GTI was above the critical level of 50, which means timber production and operations increased from the previous month.

Source: ITTO