Timber and wood products exports were worth US$1.12bn in March, but the value was down 2% compared to March 2023. Exports of wood products contributed US$749m, up 58% compared to February 2024, but down 4% compared to March 2023.

Q1 exports totalled US$3.4bn, says ITTO, up 19% over the same period in 2023. Wood product exports accounted for US$2.3bn, up 23% over the same period in 2023.

Wood-based panels and flooring exports in the first two months of 2024 were worth US$280m, up 37.6% on a year ago. Wooden frame seats were the single biggest product item being exported.

Timber and wood product imports in March 2024 stood at US$190m, up 55% compared to February 2024 but down 2% on a year ago. Q1 imports were US$532m, up 15% over the same period in 2022.