US imports of hardwood plywood continued to plummet in February 2023. Imports fell 12% for the month to a level 63% below that of the previous February.
The 130,211m3 imported in February was reportedly the lowest monthly amount imported since March 2009, according to the International Tropical Timber Organisation (ITTO).
Imports from China, Russia and Indonesia all fell more than 20% and were down well over 50% for the year so far.
Imports from Ecuador also fell 20% in February but were up 28% for the year thus far. With the exception of Ecuador, imports from all major trading partners were down sharply over the first two months of the year as total imports are off by nearly two thirds.
This downward trend is also observed for tropical hardwood. US imports of tropical hardwood products remained on a downward path in February. Imports of hardwood plywood fell to their lowest volume in 14 years while sawn tropical hardwood imports tumbled 25% and imports of wooden furniture fell 19%.
Imports in the sector have been tracking steadily downward since autumn of 2022.