The global forest products industry is showing significant signs of recovery in 2024, with international trade climbing to $486 billion after plummeting by 14 per cent the previous year.
According to a new report from the Food and Agriculture Organization of the United Nations (FAO), the new statistical overview, titled “Global forest products facts and figures 2024,” indicates that the sector has regained momentum and is stabilising after a sharp decline.
Global exports of wood and paper products experienced a modest rise of $7 billion, or 1.4 per cent, in 2024. This new level surpasses all trade values recorded before 2021. The economic scope of the sector also broadened, with exports of non-wood forest products growing to reach $25 billion.
‘Forests support millions of livelihoods worldwide, and the number is set to rise as forests offer more economic opportunities in a growing range of industries, including sustainable wood production,’ stated FAO Director-General QU Dongyu.
The upturn is underpinned by increased output across most major product groups. Gains ranged from 2 per cent for industrial roundwood, wood pellets and wood pulp, to between 4 and 5 per cent for wood-based panels, paper and paperboard.
Production of industrial roundwood-wood harvested for non-energy uses-rose by 2 per cent to 1.96 billion cubic metres in 2024, though its global trade contracted by 1 per cent.
Global sawnwood production remained nearly unchanged, but performance varied by region. Output fell by 2 per cent in North America and remained stable in Europe and the Asia-Pacific, while it climbed 2 per cent in Latin America and the Caribbean.
Continuing a recovery from the previous year, wood-based panels saw global production expand by 5 per cent to 393 million cubic metres. Trade in panels grew even faster, rising by 6 per cent to 90 million cubic metres.
Wood pulp production climbed 3 per cent to 189 million tonnes, and its international commerce expanded by 2 per cent to an all-time high of 73 million tonnes. Much of this new supply originated from China and South America, particularly Brazil, Chile and Uruguay.
Following a slight dip in 2023, global production of wood pellets, driven by bioenergy targets, returned to its 2022 level of 48 million tonnes. Europe and North America remained the principal producing regions, although the Asia-Pacific region’s share of output increased to 22 per cent in 2024. Europe accounted for 70 per cent of global consumption.