Exports of Indonesian wood products increased in 2022 but the Ministry of Environment and Forestry (KLHK), quoting the Association of Indonesian Forest Concession Holders (APHI), has warned of a possible global recession.
Up to November 2022, exports of processed wood products reached US$13.27bn, close to the total value of export in 2021 which was the highest on record for processed wood products.
Plywood exports were $2.67bn, down 1.6% year-on-year, and furniture $2.11bn up 14% year-on-year.
Wood product exports to Japan up to November 2022 recorded an increase of 13% year-on-year while exports to South Korea increased 6% year-on-year. Exports to the EU and UK increased by 10% year-on-year to $1.16bn and exports to India increased by 38% year-on-year to
However, demand in Indonesia’s main market, China, was weak.
In related news, the KLHK revealed that the 2022 export value of industrial forest products was good, being almost one and a half times above the target of $10bn.