According to the latest Global Timber Index (GTI) report, the global timber market showed signs of recovery in February 2025 after a long period of challenges.
The Global Timber Index (GTI), supported by the International Tropical Timber Organization (ITTO), tracks the performance of the timber industry in several pilot countries. Ghana's GTI was 53.3%, above the 50% threshold for the second consecutive month, indicating that its timber industry continues to improve. Thailand's index was 47.1%, and although export orders declined, logging, production and domestic orders all showed positive trends. In February, Mexico's (47.8%), the Republic of Congo (45.6%), China (44.1%), Brazil (43.2%), Gabon (34.7%) and Malaysia (20.6%) GTIs were all below the 50% threshold, meaning that the timber industry in these countries was generally in decline. However, compared with January, the GTIs of all these countries rose in February, showing that the downward trend is easing.
Positive signs were also shown in the GTI sub-indices. Thailand's timber production continued to grow, Mexico's domestic market improved, and Ghana's existing order volume was relatively sufficient, providing support for production and business activities in the short term. In addition, Chinese companies are relatively optimistic about the overall trend of the timber market in the next six months.
The GTI-Producers Index for timber production was 44.4% in February, and the GTI-Woodbased Panel Index was 39.1%, indicating that both sub-sectors declined in February.
Several tropical countries have taken measures to increase policy support for their own timber markets. In Thailand, the Ministry of Commerce announced that it would simplify the export procedures for wood products. Except for Siamese rosewood, which is still banned from export, companies no longer need to apply for export licenses for the export of wood products. The transitional president of Gabon announced a $50 million allocation to restart stalled construction projects, which is expected to boost the country's demand for timber. The Brazilian House of Representatives approved a bill and submitted it to the Senate for deliberation, which provides for a refund of taxes equivalent to 3% of export revenue to small export companies, which will reduce the tax burden on some timber exports. (Source: ITTO)
