Although volumes remain well below pre-recession levels of 2007, demand from timber markets recovered strongly in the second half of 2013 to around 14.45 million m3, according to the Timber Trade Federation Statistical Review.
“The higher level of demand has continued into 2014, indicating that recovery has begun, although such spikes in demand have occurred previously over the last five years,” the TTF said.
While timber and panel products are valued at more than £3bn, the TTF said after sawmilling, planing, joinery and other processes, the industry was worth nearer £7bn.
Last year was a year of two halves with no growth during the first six months. Imports and UK production then grew substantially to finish 7.2% up on 2012.
Volumes of timber and panel products reached 14.45 million m3, up from 13.49 million m3 in 2012, not far off 2008 levels. In 2007 volumes were almost 18 million m3.
The value rose to the highest since the recession at £3.1bn from a low of £2.7bn in 2009 and the high of £3.32bn in 2007. The latest 8.1% increase in turnover comprised a near 1% boost in prices paid, on top of the increase in volume.
Supply remains around a 60/40 split between UK-produced and imported products, with UK supplies at 6.15 million m3 and imports 8.31 million m3.
