UK timber import decreases, but prices are stabilized

Timber Development UK (TDUK) organization reports that UK timber imports decreased in the first quarter of 2024. For example, in the first quarter of 2024, timber imports into the UK became 150 000 m3. It is lower than in the same period of 2023. What is interest in January and February import volumes are the same, but in March they decrease by 6,2%.

The main source: Timber imports soften but prices stabilise

What causes decreasing in UK timber import

The main reason for the decreasing import of wood products is the slowing building industry – the major consumer. Nick Boulton, TDUK head of technical and trade, says: “The fall in timber import volumes during Q1 of 2024 is largely in line with the fall in overall construction output data. It was 1.4% down in Q1 2024 over Q1 2023 and 7.5% lower in March 2024 compared with March 2023. This can be attributed to poor UK economic performance and weaker construction outputs. It saw the lowest levels of housebuilding since 2014 (not including the COVID-affected year of 2020).

“New housebuilding output in the UK – a significant source of wood usage – has fallen in each month (compared to the same month of the previous year) from February 2023 through to March 2024, with outputs 15% lower compared with March 2023.

“Now, we must look ahead to the post-general election economy and call on the upcoming government to prioritise housebuilding and construction. The construction industry represents around 7% of UK GDP and is often the engine that drives economic recovery across the UK as a whole. But we need investment from government to enable manufacturers and suppliers to plan ahead with any certainty. Timber can play a central role in the UK’s construction and net zero targets. As an industry we will continue to lobby government to make the most of the opportunities that exist by building more with timber.”

By the way, the UK economy become better, gradually recovering from the consequences of BREXIT, the COVID pandemic, and the Russian invasion of Ukraine.

Which current situation on the wood market and which further forecasts

Experts expect that timber imports into the UK will increase as the construction industry recovers. Generally, the 2024 import must become higher than in 2023. Also, one of the benefits of this decrease is price stabilization, which additionally stimulates the development of the building industry.

Fencyx, as one of the leaders in the UK building industry, follows all changes in the UK timber market and adapts it to work on it. Now we also propose the best conditions and prices on timber for our customers, so don`t miss the opportunity.

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