Sharp decline in China’s plywood and wood furniture exports; wooden doors rose in output value in 2019
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According to China Customs, in the first quarter of 2020, China’s plywood exports were 1.85 million cubic metres valued at US$787.6 million, a drop of 85% and 82% respectively over the same period in 2019, reported ITTO.
The main markets for plywood exports in the first quarter were the Philippines (131,000 cu.m), UK (129,000 cu.m), Japan (125,000 cu.m), UAE (111,000 cu.m), Vietnam (105,000 cu.m) and Saudi Arabia (104,000) all of which were significantly down year on year.
First quarter plywood imports were 35,068 cubic metres valued at US$26.85 million, a decline of around 80% in both volume and value. Over 70% of China’s plywood imports are from five countries, Russia (16,002 cu.m), Indonesia (4, 886 cu.m), Malaysia (3,368 cu.m), Vietnam (1, 547 cu.m) and Japan (1, 290 cu.m).
Sharp drop in wooden furniture exports and imports
China Customs data is showing that in the first quarter of 2020, the value of China’s wooden furniture exports fell 84% year on year to US$3.104 billion.
The main markets were the U.S. (US$882 million), Japan (US$254 million), UK (US$211 million), Australia (US$188 million), South Korea (US$150 million) and Canada (US$119 million) all dropping around 80% compared to the first quarter 2019.
China imports small amounts of furniture which, in the first quarter 2020, were worth US$203 million, down 80% year on year.
Rise in the value of wooden doors output in 2019
The total output value of wooden door in 2019 reached RMB153 billion, an increase of 4% over the same period 2018. The export value of wooden doors was USD639 million, down 6% from 2019.
Custom made home furnishings are an important new market in China and this has spread to wooden doors enterprises. In 2019 eight major custom-made home item manufacturers (Piano, Holike, Topstrong, Shangpin, Olo, Sogal, Jinpai, and Zbom) achieved sales of RMB25.991 billion, up 17% year on year.
China's wooden door market index (WDMCI) in the first quarter of 2020 shows that, once the worst of the pandemic was over, market demand has gradually improved. Further improvement will depend on how the housing market develops.