Latest TDUK figures show a 15% surge in timber import volumes for 2024

The latest figures from Timber Development UK (TDUK) reveal a 15% increase in the import volumes of all major timber and panel products in October 2024.

This surge marks a significant boost in a year characterised by gradual recovery, reducing the cumulative deficit for 2024 to just 1.2% compared to 2023. Notably, the volume deficit for softwoods narrowed dramatically to only -0.3%, while OSB volumes surpassed last year’s figures.

2024 import trends 

Softwood imports in October 2024 were approximately 11% higher than the same period in 2023, driven largely by a near doubling of planed pine imports – 27,000m³ more than the previous year. Sweden maintained its position as the UK’s leading supplier, accounting for 47% of all softwood imports, with Latvia also contributing increased volumes.

The month also saw a remarkable 18,000m³ surge in temperate hardwood plywood imports, including species such as alder, beech and ash. This increase, primarily driven by imports from China, represented a 50% rise compared to earlier months in 2024.

Softwood import shifts

Softwood plywood imports experienced the highest proportional growth among all timber products, with Brazil supplying an additional 10,500m³ and Finland contributing over 2,000m³ more. Unworked OSB imports also rose sharply, with Latvia supplying 11,000m³ more and Germany adding 3,000m³. German OSB prices fell by 9% between June and October, likely influencing the increase, while Latvian prices dropped only 2%, yet still saw significant growth.

Hardwood import dynamics 

Hardwood imports for the first 10 months of 2024 were 18,000m³ lower than the same period in 2023. Over half of this shortfall was due to reduced volumes from the USA and Cameroon. However, increased supply from Romania (+2,500m³), Estonia and France partially offset the decline.

Temperate hardwood imports specifically fell by 9,000m³, largely driven by lower volumes from the USA, Croatia and Germany. Meanwhile, imports of hardwood plywood remained stable year-on-year, with China strengthening its dominance; in October alone,three out of every four cubic metres of hardwood plywood originated from China.

Industry insights & future outlook

Nick Boulton, TDUK Head of Technical and Trade, commented: “The 15% growth in import volumes seen in October 2024 was exceptional compared to previous months, providing positive news as the cumulative import deficit between 2024 and 2023 continues to narrow. However, this surge appears to be an isolated event rather than indicative of sustained growth, with November volumes expected to return to more typical levels.

“As we move into 2025, significant challenges persist. New housebuilding starts, a key driver of timber demand, remain sluggish. Consumer confidence also appears low, limiting any substantial rise in RMI (repair, maintenance and improvement) work during the first quarter.

“Despite these challenges, TDUK remains committed to advocating for timber as a primary low-carbon building material in government initiatives to bolster the housebuilding industry. We remain optimistic about the long-term prospects for timber.”

TDUK members can log in and read the full report via the website.

For further information on Timber Development UK (TDUK), see www.timberdevelopment.uk.