Exports of Southern Pine lumber (treated and untreated) are running 17% ahead of 2023 through the first three quarters of 2024, according to September data from the USDA’s Foreign Agriculture Services’ Global Agricultural Trade System.
Southern Pine lumber exports were down 10% in the third quarter of 2024 over the prior quarter but up 11% over the same period in 2023. Exports were up 3% over August and up 20.9% over September 2023.
Softwood imports, meanwhile, were down 6.3% over September 2023 but up a slight 1.2% over August. They were down 4.3% in August over 2023 and down 3.8% over July. They are nearly flat through the first nine months of the year at 1.1 Mbf.
When looking at the report by dollar value, Southern Pine exports between January and September 2024 are running 9% ahead of the same period in 2023 at $168.7 million, with Mexico leading the way at $46.6 million, followed by the Dominican Republic at $41.3 million, and India at $13.1 million. Treated lumber exports, meanwhile, are flat over the year at $103.1 million led by Jamaica with $17.6 million, the Leeward-Windward Islands at $16.1 million, and the Dominican Republic at $8.4 million.
Our international consultants weighed in with the following key takeaways among countries reporting more than 1 Mbf of imports through the first nine months of 2024:
- Mexico remains the largest export market (by volume) of Southern Pine and treated lumber, up 31% YTD over 2023 with 119.3 Mbf of imports.
- The Dominican Republic, the No. 2 importer of Southern Pine, is running 24% ahead of the same period last year with 77.3 Mbf.
- India’s total of SYP imports continues to trend upward, running 9% ahead of 2023 at 28.3 Mbf, led mostly by rough Southern Pine.
- Exports to China continue to plummet, down 50% YTD compared to 2023 with 11.4 Mbf of Southern Pine lumber imports.
- The trend will likely continue given the solid bipartisan support to not let up on tough sanctions on China.
- The following countries in the Caribbean and Central American region, outside of Mexico and the Dominican Republic mentioned above, have imported more than 1 Mbf through September 2024:
- Jamaica: the third-largest export market is up 17% with 46.2 Mbf.
- The Leeward-Windward Islands: nearly YTD with 25.5 Mbf.
- The Bahamas: down 7% with 15.4 Mbf.
- Netherland Antilles: up 90% at 9.2 Mbf.
- Belize: up 25% YTD with 8 Mbf.
- Barbados: up 26% for the year at 8.3 Mbf.
- Haiti: up 17% with 7.1 Mbf.
- Trinidad and Tobago: down 18% with 6.9 Mbf.
- The Cayman Islands: up 35% over 2023 to 4.4 Mbf.
- Turks and Caicos: up 35% with 2.7 Mbf.
- Panama: up 211% to 2.4 Mbf.
- Costa Rica: up 184% over the year at 1.7 Mbf
- Honduras: down 64% over the year at 1.3 Mbf.
- El Salvador: joined the million board foot club with 2.5 Mbf through the first three quarters, up 1,165% over 2023.
When looking at countries that have imported more than 1 Mbf so far in 2024, here is what our consultants found:
Trending up:
- Canada: trending higher at 26% over 2023 with 20.4 Mbf so far this year.
- Pakistan: continues to rise, up 163% over the year to 10.6 Mbf.
- Pakistan was a non-existent market just a few years ago.
- Colombia: up 11% over the year with 4.6 Mbf.
- Vietnam: up 927% over the year to 4 Mbf.
- Taiwan: up 13% with 3.9 Mbf.
- Philippines: up 26% with 3.5 Mbf.
- Egypt: up to 2.3 Mbf for the year, 19% ahead of the same time a year ago.
- France: up 304% to 2.2 Mbf
- United Kingdom: up 16% over 2023 with 1.5 Mbf.
- Australia: just barely crossed the Mbf threshold in September with 1 Mbf YTD. That’s up 1% over 2023.
Trending down:
- The Netherlands: down 50% on 2.6 Mbf year-to-date.
- Much of that product is shipped elsewhere in the EU.
- French Pacific Islands: down 10% with 1.3 Mbf.
- Italty: just barely crossed the Mbf threshold in September with 1.2 Mbf YTD. That’s down 14% over 2023.
SFPA members: Don’t forget to check out the members-only site to get a full breakdown of every country’s import and export numbers for Southern Pine and treated lumber!
*Note: data are expressed in Million Board Feet (Mbf) unless otherwise indicated.