Chinese plywood exports have reached a new annual record, exceeding 12.99 million cubic meters in the past 12 months according to the latest customs data. This marks a growth of over 7% year-on-year, driven primarily by strong demand from markets in the Middle East and Asia, even as average export prices have softened.
Hardwood Plywood Dominates Export Mix
The export structure remains heavily oriented toward hardwood plywood, which accounts for over 78% of total shipments (approximately 10.1 million cubic meters). This volume far outpaces exports of softwood plywood (15.4%, or about 2 million cubic meters) and tropical plywood (6.36%, or 827,000 cubic meters).
Australia Emerges as Key Growth Market
A notable development is the significant growth in exports to Australia. With over 600,000 cubic meters of plywood arriving at Australian ports-a increase of more than 22%-Australia has become China's sixth-largest export market for the product. The average price per cubic meter for plywood entering Australia is reported to be higher than that for other major Chinese buyers. This growth comes even as Australia's overall plywood import market has faced challenges.
Market Geography Undergoes Transformation
The record volume, which surpasses the previous peak of 12.14 million cubic meters during the pandemic in 2021, highlights a dramatic geographical shift in China's plywood trade. Exports to the United States, once China's largest market with 1.83 million cubic meters in 2015, have plummeted to only 150,000 cubic meters last year, following years of anti-dumping duties and shifting trade policies.
Currently, the top export destinations by volume are the Philippines (983,000 cubic meters), the United Arab Emirates (934,000 cubic meters), Saudi Arabia (750,000 cubic meters), Nigeria (644,000 cubic meters), and Australia. This reorientation underscores the industry's successful pivot toward emerging markets amidst ongoing trade tensions with traditional Western partners.
Data Sources
The market data, policy announcements, and industry analysis referenced in this report are synthesized from publicly available information released by government agencies, customs authorities, industry associations, and authoritative trade publications. Key sources include:
- China Data: Statistics from the General Administration of Customs of China, industry briefings from the China National Furniture Association, information from seminars and appraisals held by the China National Forest Products Industry Association, and reports from official local media.
- International Policies: Official announcements and rulings from institutions such as the U.S. Department of Commerce, the European Commission, the Ministry of Economy and Finance of South Korea, and the Russian Government.
- Industry Developments: Reports from the International Tropical Timber Organization (ITTO), as well as public statements and market analyses from major industry associations worldwide, including the German Timber Trade Federation (GD Holz), the Thailand Rubberwood Manufacturers Association, and the Vietnam Timber and Forest Product Association (VIFORES).
- Market Information: Coverage of industry conditions in key producing regions (e.g., New Zealand, Canada, Russia) by professional media such as Reuters, TASS, and Wood Central.
All trend analysis and comprehensive conclusions are derived from cross-referencing and logical deduction based on the aforementioned sources.
