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According to the latest import and export data from TDUK, the import volume of major wood and board products in the UK in 2022 decreased by 2.4 million cubic meters to 9.3 million cubic meters compared to the same period last year, a year-on-year decrease of 25.8%. Among them, this is mainly related to the decrease in softwood imports.

Import and export data show that UK softwood log imports in 2022 decreased by 25% compared to the record data in 2021. Despite a significant decline in volume value, the average cost of softwood imports has increased by 7% due to strong global demand.

Unlike softwood import data, the UK hardwood market showed a growth trend in 2022. According to import and export data, production increased by 7% in 2021. By 2022, the total volume of hardwood imports in the UK reached 576000 cubic meters, with a value of 433 million pounds, making 2022 the best year for hardwood imports in the UK this century. Import and export data show that since 2022, inflation has risen sharply in several European countries, triggering strikes by workers from various industries. For this reason, the construction industry, which consumes one of the largest amounts of wood, has had to delay the process. This has led to a sharp decline in the demand for wood in the construction market.

However, due to the temporary effect of the government's inflation reduction measures, the economic forecast improved at the end of the year. And although the UK's timber import volume fluctuated significantly in 2021 and 2022 due to the impact of global timber market demand and price fluctuations, in fact, import and export data show that the average import volume of UK timber has gradually increased since 2009, and there are indications that it will grow in the long term.

Therefore, TDUK forecasts an optimistic outlook for the timber industry in 2023. "In 2022, timber prices slowed from a dizzying high in 2021, with high inflation and economic fluctuations damaging consumer confidence in key industries such as retail," said Nick Boulton, TDUK's technology and trade director. He added that the unstable environment in the third quarter of 2022 also weakened confidence in the housing market, reducing housing starts and timber demand. However, with the gradual stabilization of progress this year, the local timber supply has maintained a stable level, and good market demand was also reported in early 2023, which provides great confidence for the UK timber market.