Indonesia: Positive wood product export trend despite downturn in China

Fonte:
ITTO/Fordaq
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Indonesia's wood product exports continue to grow even though the Chinese market is currently weakening due to the country's economic slowdown.

Based on data from the Ministry of Environment and Forestry (KLHK) which was processed by the Association of Indonesia Forest Concession Holders (APHI), as of 7 September 2022 exports of wood products during JanuaryAugust 2022 reached US$9.75 billion dollars. That is an increase of 14% compared to the same period in 2021.

The value of exports up to August 2022 was 72% of the total value of wood product exports in 2021. Exports of furniture products also increased and were recorded at US$1.68 billion, up 28% compared to last year.

Wood product exports to China fell 17% to US$2.08 billions from the previous US$2.51 billion dollars in January-August 2021. The economic slowdown is not only affecting China, a number of other countries, which are main markets for Indonesian wood products, are being impacted. However, exports to the United States rose 15% to US$1.63 billion and exports to the European Union + the UK rose to US$868.4 million dollars, a 17% increase.

The Director General of Sustainable Forest Management at the Ministry of Environment and Forestry (KLHK), Agus Justianto, said that, although the China market experienced a slight slowdown, he was optimistic that the positive trend in exports of wood products could be maintained. According to Agus, the Russia-Ukraine crisis has had an impact on global trade. However, for Indonesian wood products the crisis has had little impact so far and the trade restrictions on Russia created new opportunities for Indonesian wood products.

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