US imports of hardwood plywood declined by 21% in November, falling to their lowest level since January 2021. The 220,249 cubic metres imported was 22.5% less than that of November 2021.
Imports from Russia, which inexplicably inflated in October, crashed in November falling 90% to their lowest level in nearly 12 years. Imports from Malaysia, Cambodia, China and Vietnam also fell sharply.
Despite the declines, total imports from nearly all trading partners remain ahead of 2021 totals through November. Total US imports of hardwood plywood are up 14% over last year through November.
Veneer imports gain
US imports of tropical hardwood rose 9% in November as imports from Africa soared. Imports from Cameroon rose 695% in November to an all-time record level while imports from Cote d’Ivoire doubled to reach their highest level since September 2018. These gains more than offset sharp declines in imports from China and India.
Total imports for November were 65% higher than the previous November while year to date imports are up 55% over 2021. Imports from all major trading partners are well ahead of 2021 year to date through November.
Hardwood flooring imports decline
US imports of hardwood flooring fell by 24% in November to a level 27% less than that of November 2021. Imports from Brazil declined 66% while imports from Malaysia slid 23%.
Imports from Indonesia continued their recent gains, rising 33% to top US$1 million for the first time since 2016.
Imports from Indonesia are nearly tripling 2021 totals year to date through November. Despite the poor November numbers, total imports of hardwood flooring remain ahead of 2021 year to date, but now by only 8%.
Imports of assembled flooring panels continued to slide in November, falling 3% from October to a level 17% lower than that of last November. Imports from Brazil nearly disappeared, falling 98%, while imports from Thailand also fell sharply for the second straight month. Despite the decline, total imports of assembled flooring panels year to date are ahead of 2021 by 26% through November.