UK timber imports tracked downwards in Q1 2024, largely mirroring a fall in overall construction output, according to the latest stats from Timber Development UK (TDUK).
Import volumes for Q1 were around 150,000m3 down on the same quarter last year. While January and February’s data remained at similar levels, volumes fell back in March resulting in a 6.2% reduction.
TDUK said nearly all product types experienced this fall in volume, with only hardwood plywood finishing higher – up by 1% in Q1 compared to a year ago.
TDUK pointed out that the figures for March 2024 are being compared against March 2023 – the second-best month for import volumes of 2023 – after which volumes dropped further in eight of the following nine months.
“Anecdotal forecast data from the panels sector suggest volumes are expected to improve for the remainder of 2024, which may indicate 2024 ends as a stronger overall year than we saw in 2023,” it said.
Figures for March 2024 also show import prices for softwood, hardwood and plywood imports have largely stabilised in recent months, returning closer to pre-Covid and pre-Brexit levels.
“The fall in timber import volumes during Q1 of 2024 are largely in line with the fall in overall construction output data, which was 1.4% down in Q1 2024 over Q1 2023 and 7.5% lower in March 2024 compared with March 2023,” said TDUK Head of Technical and Trade, Nick Boulton.
“New housebuilding output in the UK – a significant source of timber 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.”
TDUK members can read the full report on the TDUK website.
