April 2023 Southern Pine exports were up 2.5% in April over March and up 19.7% over the same month in 2022. Softwood imports, meanwhile, were down 6.3% over the month and down a slight 0.8% over the same month in 2022.
Overall, April 2023 Southern Pine and treated lumber exports outpaced the same period a year ago by 14%, 164.3 million board feet (Mbf) YTD compared to 143.5 Mbf in 2022.
Our international consultants weighed in with the following thoughts on the April 2023 Southern Pine exports. Here are their three key takeaways:
China
U.S. (and Canadian) exports to China broadly slipped, although there was a recent uptick in Southern Pine shipments to the market. European suppliers, with an abundance of inexpensive fiber, are making gains in the market at the expense of North American supply. Affecting everyone is China’s struggling real estate market, with overall construction continuing to drop. And, of course, tariffs on U.S. softwoods have truncated exports to China.
- Exports to China also continue to surge in 2023 compared to the same period in 2022. They’re up 356% YTD from 2.6 Mbf through April 2022 to 12.1 Mbf so far this year. This is mostly led by a 395% year-over-year increase in dressed SYP imports.
- Worth noting: China has imported more than 2.5 Mbf every month so far in 2023. There was only one month in 2022 where imports were above the 2 Mbf mark (2.3 Mbf in July 2022).
Caribbean Region
Tourism-related construction in the Caribbean continues to rebound, bringing with it stronger demand for Southern Pine in the region.
Southeast Asia
Southeast Asia has become the third largest export region for Southern Pine as furniture production in the region continues to shift out of China. The Philippines and Vietnam – two markets that SFPA has been working extensively to develop for its members – lead the way.
OTHER NOTES OF INTEREST INCLUDE…
- Mexico retained its status as the largest export market (by volume) of Southern Pine and treated lumber for the second month after taking over the Dominican Republic. Exports to Mexico have nearly doubled in the past five years. While they were down 13% in April 2023 compared to the same month a year ago, they’re still running 15% ahead of 2022 YTD with 35.5 Mbf in exports so far this year.
- Worth noting: Mexico imported more than 11 Mbf per month in October-December 2022 but has been below 10 Mbf per month so far in 2023.
- India’s total of SYP imports continued to skyrocket over the year. The country is now up 364% through April at 9.7 Mbf, mostly led by a 1,422% increase in rough SYP, which outpaces the 204% increase in dressed SYP.
- Worth noting: India has been above the 3 Mbf mark for the past two months and above the 1 Mbf import mark every month this year. It only recorded one month above the 1 Mbf mark in all of 2022.
- With the exception of Jamaica, the Dominican Republic, and Trinidad and Tobago, which are up 131%, 42%, and 23% so far in 2023, respectively, the Caribbean region is experiencing a downward trend so far in 2023 compared to the first four months of 2022:
- The Cayman Islands are down 51% YTD, from 3.1 Mbf to 1.5 Mbf in 2023.
- The Netherlands Antilles, down 43% from 2.4 Mbf to 1.4 Mbf.
- Haiti is down 29%, from 3.2 Mbf to 2.2 Mbf.
- The Bahamas are down 25%, from 10.1 Mbf to 7.6 Mbf.
- The Leedward-Windward Islands are down 18%, from 11.3 Mbf to 9.3 Mbf.
- Barbados is down 14%, from 3.1 Mbf in 2022 to 2.7 Mbf.
TRENDING UP
- Belize: Continuing to trend upward in 2023 at 288% above the same four months YTD in 2022. Belize has consistently imported more than 700 thousand board feet (mbf) every month so far this year.
- Taiwan: On the rise with a 61% increase so far in 2023. That’s led by 758 mbf of dressed SYP imports so far this year, a 1,688% jump over last year. However, treated lumber is down 81% over 2022.
TRENDING DOWN
- Pakistan: The downward trend continues, now down 87% through April 2023 compared to a year ago. Pakistan imported 6.4 Mbf through the first four months of 2022 compared to year.
- Philippines: Down 85% YTD, from 6.1 Mbf to 917 mbf so far in 2023.
- Netherlands: Down 49% from 4 Mbf to 2 Mbf in 2023.
- Canada: Down 45% from 10.8 Mbf to 5.9 Mbf.
- Colombia: Trending down 18% below the first four months of 2022 from 1.8 Mbf to 1.5 Mbf in 2023.
SFPA members: Don’t forget to check out the members-only site to get a full breakdown on every country’s import and export numbers for Southern Pine and treated lumber!