KUCHING: The European Union (EU) has raised its imports of tropical wood furniture from Malaysia by 20 per cent to US$68.9 million during the January-September 2024 period (9m2024) as compared to a year ago.
This ranked Malaysia as the fourth largest supplier of tropical wood furniture to the European bloc.
In 9m2024, EU increased its imports of tropical wood furniture by seven per cent to 217,300 tonnes valued at US$914 million (+4%) from 9m2023.
Besides Malaysia, EU also increased shipments from top supplier Vietnam to US$385.1 million (+12%), India to US$195 million (+12%) and the Philippines to US$6.2 million (+2%).
On the other hand, the bloc had reduced imports of wooden furniture from Indonesia (second largest supplier) to US$240.5 million (-12%), Thailand to US$10.6 million (-32%) and Mexico to US$2.6 million (-20%) during the same period, according to International Tropical Timber Organisation (ITTO) Tropical Timber Market Report (December 1-15, 2024).
In 9m2024, EU recorded a 20 per cent drop in the imports of tropical sawnwood to 527,600 cu m worth US$487.1 million (-20%) as compared to that of 9m2023.Imports declined from nearly all leading supply countries, including Malaysia to 46,500 cu m (-11%), Cameroon (No 1 supplier) to 23,100 cu m (-18%), Gabon to 79,000 cu m (-23%), Brazil to 64,900 cu m (-20%), Republic of Congo to 51,900 cu m (-24%), Ghana to 11,900 cu m (-30%), Cote d’Ivoire to 7,000 cu m (-30%), Suriname to 5,600 cu m (-8%) and the Democratic Republic of Congo to 4,800 cu m (-54%).
However, EU’s sawnwood imports from Ecuador bucked the overall downward trend, rising 25 per cent to 12,500 cu m in 9m2024 while shipments from Vietnam also increased by 46 per cent to 4,800 cu m.
On tropical mouldings/decking, EU imported 12 per cent less to 98,200 tonnes valued at US$172 million (-19%) during the same period under review.
“During the first nine months, imports increased year-on-year from Peru (+12% to 10,000 tonnes) but fell from all other leading supply countries, including Brazil (-20% to 33,300 tonnes), Indonesia (-1% to 32,200 tonnes), Gabon (-23% to 6,300 tonnes), Malaysia (-10% to 4,500 tonnes) and Bolivia (-13% to 4,200 tonnes),” said the ITTO report.
EU’s tropical log imports plunged by 64 per cent to 26,900 cu m worth US$16.6 million (-65%) in 9m2024 against that of a year ago.
“The decline was driven mainly by a 91% decline in imports from the Republic of Congo to 3,400 cu m. This follows the ban on exports of most logs from the country since 1st January 2023. Imports were also down from the Central African Republic (-44% to 7,500 cu m), the Democratic Republic of Congo (-24% to 5,200 cu m), Cameroon (- 54% to 3,800 cu m) and Guyana (-41% to 1,000 cu m).
“However, EU logs imports soared from Paraguay (+263% to 2,800 cu m) and Ecuador (+37% to 700 cu m) during the nine-month period.”
In 9m2024, EU also reported lower imports of tropical hardwood veneer, plywood and joinery products. Imports of tropical veneer dropped by 12 per cent to 185,200 cu m valued at US$125.6 million (-13%), with shipments from the largest supplier Gabon fell by seven per cent to 103,000 cu m.
Imports from Indonesia slid by 11 per cent to 2,300 cu m, and also dropped from Cote d’Ivoire (-17% to 37,300 cu m), Cameroon (-28% to 19,800 cu m) and Equatorial Guinea (-84% to 800 cu m).
On the other hand, tropical veneer imports into EU increased substantially from the Republic of Congo (+43% to 8,300 cu m), United Kingdom (+49% to 6,200 cu m) and Ghana (+8% to 5,200 cu m) in 9m2024 from a year ago.
Malaysia was a big gainer in the exports of tropical plywood to EU, surging 78 per cent to 5,300 cu m during the period of comparison. As compared to other dominant suppliers, Malaysia was a minor supplier. In 9m2024, EU spent US$149 million on the imports of 204,700 cu m of tropical plywood, down one per cent in value and two per cent in volume as compared to 9m2023.
The European bloc was cutting imports from all the three leading supply countries: Indonesia (No 1 supplier) to 55,600 cu m (-16%), Gabon to 48,700 cu m (-2%) and China to 24,300 cu m (-4%). Imports from Brazil were also down by four per cent to 11,500 cu m while indirect imports via the UK fell 34 per cent to 5,400 cu m.
However, these losses during the nine-month period was partly offset by rising plywood imports from Vietnam (+94% to 19,500 cu m), Morocco (+20% to 13,900 cu m), Paraguay (+59% to 6,100 cu m) and Malaysia (+78% to 5,300 cu m).
On tropical wood flooring, Malaysia, as the largest supplier, shipped 5,800 cu m to EU in 9m2024, and this was a decline of 28 per cent from 9m2023. Out of the total 12,700 cu m valued at US$33.1 million imported by EU, 2,400 tonnes (-35%) came from Indonesia and 3,000 tonnes from Vietnam (+42%). Flooring imports from Brazil plunged by 53 per cent to 400 tonnes in 9m2024.
“The value of EU imports of other joinery products from tropical countries, which mainly comprise laminated window scantlings, kitchen tops and wood doors, was US$152.9 million in the first nine months of this year. Import quantity was up 7% to 66,000 tonnes as compared to the same period last year.
“Between January and September this year, EU import value of other tropical joinery products was down 15% to US$44.4 million from Malaysia. Indirect imports from the UK also fell, by 12% to US$3.8 million. However, imports value increased 6% to US$61.8 million from Indonesia and was up 35% to US$14.3 million from Vietnam.
“In a potentially significant longer-term development, given efforts in central Africa to shift up the value chain as log exports are banned, EU import value of laminated joinery products in the first nine months of 2024 was up 31% to US$9.8 million from the Republic of Congo and up 30% to US$2.6 million from Cameroon,” added the ITTO report.
The ITTO report said EU total imports of tropical wood and wood furniture of 358,100 tonnes in third quarter of 2024 (3Q2024) were down four per cent as compared to 2Q2024, and 10 per cent less than 3Q2023.
“The latest figures mean that imports in the last four quarters, averaging around 350,000 tonnes, have been well below the long-term average of closer to 450,000 tonnes. In the first nine months of 2024, the EU imported 1,066,400 tonnes of tropical wood and wood furniture, 14% less than the same period in 2023.
“In quantity terms, EU imports of tropical wood and wood furniture products this year look set to be at the lowest annual level ever recorded since the EU was first formed (as the EEC) in 1957.
“In value term, EU tropical wood product imports are at the same low, but broadly stable, level prevailing between 2013 and 2019.In the first nine months of 2023, the EU imported tropical wood and wood furniture with total value of US$2,284 million, 9% less than the same period in 2023,” added the report.
