Global trade of softwood lumber fell about 10% in the first half of 2022 compared to the same period in 2021. Most of the decline was driven by lower lumber demand in China, the US, and Germany. The slowdown in lumber consumption worldwide came at an opportune time since European countries, North America, and Asia boycotted Russian forest products after the country invaded Ukraine. As a result, Russia's lumber exports fell by over 30% y-o-y during the first six months of 2022 and are expected to fall further in the year's second half. ...
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