NZ exports reach record high

New Zealand’s timber exports are expected to reach a record high this year, largely due to demand from China, according to a recent report by Wood Resource Quarterly.

In the first eight months of this year export volumes were 25% higher than the same period last year, while the value was 54% higher.

One-third of log exports are being processed at Chinese mills.

Wood Resources International says New Zealand’s harvest is forecast to double to an annual rate of 55 million m³ by 2024, although 35-45 million m³ is a more realistic figure.

“Even this lower harvest outlook would increase available log supply from the current levels by more than 50%,” it said.