In the first half of 2023, my country's plywood export volume was 5.13 million cubic meters, worth US$2.368 billion, a decrease of 9% and 20% respectively compared with the same period in 2022. The main reason for the decline in plywood exports is the decline in both quantity and production capacity of China's plywood industry.
As of the end of 2022, there are more than 10,800 plywood product manufacturers in China (down 14% year-on-year), with a total production capacity of 208 million cubic meters per year, down 6.3% from 2021.
China's plywood exports to a variety of markets, but 50% of the country's exports are sold to only 10 countries. The Philippines and the United Kingdom are the two largest markets for Chinese plywood, but plywood exports to these two markets are full in the first half of 2023 (Philippines -7% and the United Kingdom -18%), which affects the export performance of the entire industry.
Due to ongoing trade frictions, the United States is no longer the main destination for Chinese plywood exports. In the first half of 2023, China's total plywood exports to the United States were only 143,000 cubic meters worth US$103 million, down 39% and 51% respectively from the same period in 2022.
Exports of plywood to Middle Eastern and African countries are on the rise. In the first half of 2023, China's plywood exports to the United Arab Emirates and Israel increased by 11% and 15% respectively.
In the first half of 2023, Nigeria became the third largest market for China's plywood exports. China's plywood exports to Nigeria surged 72% to 291,000 cubic meters, worth US$95 million, an increase of 47% compared with the same period in 2023.