"With the weakness in the Canadian housing market weighing on the industry, the resurgence in the US housing market is expected to remain the key driver for improving demand for Canadian wood products over the next couple of years," said Michael Burt, director, Industrial Economic Trends, The Conference of Canada. "The weakness in the Canadian dollar will also give Canadian wood exporters a competitive edge."
Highlights: Pre-tax profits in Canada’s wood products industry are projected to reach close to US$1.5bn in 2016, up from US$1.1bn in 2015; strength in the US housing market and the weaker Canadian dollar will continue to drive exports of Canadian wood products; and lack of investment in plants and equipment could limit the industry’s ability to take advantage of rising US demand for wood products.
