Philippine timber imports may increase by 50% in 2021

Philippine timber imports may increase by 50% in 2021. According to the report of the Philippine business mirror on November 8, the Manila Office of the foreign agricultural service (usda-fas) of the U.S. Department of agriculture shows that due to the increase of private and public construction projects, Philippine timber and its products purchased from the United States may increase by 50% to 21.6 million U.S. dollars this year. With the accelerated pace of operation in relevant industries, the total wood procurement volume of the Philippines will increase by 15% this year.

The agency said that the Philippines’ annual demand for wood and its products reached 6 million cubic meters, which could not be met by local supply, and 75% came from imports. It is estimated that by 2025 and 2030, the annual wood consumption of the Philippines will expand to 8 million cubic meters and 10 million cubic meters respectively.

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Post time: Nov-23-2021

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