Philippines: Sawnwood (Non-Coniferous) Market 2024

Sawnwood (Non-Coniferous) Market Size in the Philippines

In 2022, the Philippine sawnwood (non-coniferous) market increased by 1.8% to $X, rising for the second year in a row after three years of decline. Over the period under review, consumption posted prominent growth. Sawnwood (non-coniferous) consumption peaked in 2022 and is likely to see steady growth in the near future.

Sawnwood (Non-Coniferous) Production in the Philippines

In value terms, sawnwood (non-coniferous) production expanded modestly to $X in 2022 estimated in export price. In general, production showed a deep slump. The most prominent rate of growth was recorded in 2016 with an increase of 200%. Over the period under review, production reached the maximum level at $X in 2013; however, from 2014 to 2022, production remained at a lower figure.

Sawnwood (Non-Coniferous) Exports

Exports from the Philippines

In 2022, after three years of decline, there was significant growth in overseas shipments of sawnwood (non-coniferous), when their volume increased by 23% to X cubic meters. In general, exports, however, saw a deep reduction. The growth pace was the most rapid in 2018 when exports increased by 99.9%. The exports peaked at X cubic meters in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

In value terms, sawnwood (non-coniferous) exports rose slightly to $X in 2022. Overall, exports enjoyed a resilient expansion. The pace of growth was the most pronounced in 2018 with an increase of 253% against the previous year. Over the period under review, the exports hit record highs at $X in 2013; however, from 2014 to 2022, the exports failed to regain momentum.

Exports by Country

China (X cubic meters) was the main destination for sawnwood (non-coniferous) exports from the Philippines, accounting for a 91% share of total exports. Moreover, sawnwood (non-coniferous) exports to China exceeded the volume sent to the second major destination, Vietnam (X cubic meters), more than tenfold.

From 2012 to 2022, the average annual growth rate of volume to China amounted to -6.1%.

In value terms, China ($X) remains the key foreign market for sawnwood (non-coniferous) exports from the Philippines, comprising 93% of total exports. The second position in the ranking was held by Vietnam ($X), with a 5.9% share of total exports.

From 2012 to 2022, the average annual growth rate of value to China totaled +6.9%.

Export Prices by Country

In 2022, the average sawnwood (non-coniferous) export price amounted to $X per cubic meter, falling by -14.6% against the previous year. In general, the export price, however, saw a strong expansion. The pace of growth appeared the most rapid in 2021 an increase of 93%. As a result, the export price attained the peak level of $X per cubic meter, and then shrank in the following year.

Average prices varied somewhat for the major external markets. In 2022, amid the top suppliers, the country with the highest price was China ($X per cubic meter), while the average price for exports to Vietnam amounted to $X per cubic meter.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Hong Kong SAR (+22.9%), while the prices for the other major destinations experienced more modest paces of growth.

Sawnwood (Non-Coniferous) Imports

Imports into the Philippines

In 2022, approx. X cubic meters of sawnwood (non-coniferous) were imported into the Philippines; increasing by 11% compared with 2021. In general, imports showed a prominent expansion. The pace of growth appeared the most rapid in 2021 when imports increased by 217%. Over the period under review, imports reached the peak figure in 2022 and are likely to see gradual growth in years to come.

In value terms, sawnwood (non-coniferous) imports expanded remarkably to $X in 2022. Over the period under review, imports showed a remarkable increase. The pace of growth was the most pronounced in 2018 with an increase of 421% against the previous year. Imports peaked in 2022 and are likely to continue growth in the immediate term.

Imports by Country

In 2022, Canada (X cubic meters) constituted the largest sawnwood (non-coniferous) supplier to the Philippines, with a 35% share of total imports. Moreover, sawnwood (non-coniferous) imports from Canada exceeded the figures recorded by the second-largest supplier, Germany (X cubic meters), twofold. The third position in this ranking was taken by Finland (X cubic meters), with an 8.2% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Canada amounted to +13.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+33.8% per year) and Finland (+66.9% per year).

In value terms, Canada ($X) constituted the largest supplier of sawnwood (non-coniferous) to the Philippines, comprising 37% of total imports. The second position in the ranking was taken by Germany ($X), with a 14% share of total imports. It was followed by the United States, with a 9.8% share.

From 2012 to 2022, the average annual growth rate of value from Canada totaled +13.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+32.8% per year) and the United States (+8.1% per year).

Import Prices by Country

In 2022, the average sawnwood (non-coniferous) import price amounted to $X per cubic meter, declining by -2.4% against the previous year. Over the period under review, the import price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 an increase of 146%. Over the period under review, average import prices attained the peak figure at $X per cubic meter in 2013; however, from 2014 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($X per cubic meter), while the price for Malaysia ($X per cubic meter) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+1.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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