China’s Sawlog Imports Down in First Half of 2012August 7th, 2012 | Category: Industry News
China’s high gross domestic product growth of between 9 and 14 percent annually over the past decade slowed down last year and is forecasted by International Monetary Fund (IMF) to be 8.25 percent in 2012, reported Wood Resources Quarterly. Reduced investments in public projects and a cooling residential property market have resulted in a decline in the importation of sawlogs during the first six months of 2012.
Softwood log imports in the first and second quarter this year were 6.2 million m3 and 6.6 million m3, respectively, down from all-time high of 8.6 million m3 seen in the 3Q/11, reports the Wood Resource Quarterly. The total imports for the first half of 2012 were 15 percent lower than during the same period last year, with the biggest declines occurring in shipments from Russia, the U.S. and Australia. The report notes that Western Canada is the only major supplier that has increased shipments so far this year; annual shipments may reach more than 2.5 million m3.