US Dollar Exchange Rates of
10th September
2020
China Yuan 6.8344
Report from China
Surge in plywood exports to Malaysia
According to China Customs, plywood exports in the first
half of 2020 were 4.778 million cubic metres valued at
US$1.92 billion, down 6% in volume and 14% in value
over the same period of 2019. The average price for
China¡¯s plywood exports fell 9% to US$402 per cubic
meter in the first half of 2020.
The markets for plywood exports were diverse. The
proportion of plywood exports to the Philippines was
largest at nearly 8% and around 60% of exports went to 14
countries with each buying over 100,000 cubic metres.
Exports to most markets fell in the first half of 2020. The
decline in exports to the US was the greatest at -26%.
Although the Philippines became a major buyer of China¡¯s
plywood in the first half of 2020 taking 372,000 cubic
metres valued at US$134 million, there was a 22% drop in
volume and a 24% drop in value year on year.
China¡¯s plywood exports to Malaysia surged 97% to
252,000 cubic metres in the first half but there was a 27%
decline in average prices for exports to Malaysia. Malaysia
was once a major supplier of plywood to China but now
China¡¯s plywood imports from Malaysia totaled just
7,760 cubic metres valued at US$3.73 million in the first
half of 2020.
China¡¯s plywood exports to Saudi Arabia and Thailand
rose 43% and 27% to 21,000 cubic metres and 172,000
cubic metres respectively in the first half of 2020.
Qingdao and Lianyungang the main ports for
plywood
exports
According to China Customs, Qingdao and Lianyungang
Ports were the major exit ports for China¡¯s plywood
exports in the first half of 2020. 70% of China¡¯s plywood
exports were through Qingdao and Lianyungang Ports.
China¡¯s plywood exports through Beilun Port rose in the
first half of this year to 182,000 cubic metres however, the
value of China¡¯s plywood exports through Beilun Port fell
31%, the average price for China¡¯s plywood exports
through Beilun Port was the lowest at US$108 per cubic
metre.
US still largest market for China¡¯s wooden furniture
According to China Customs the value of China¡¯s wooden
furniture exports fell 24% to US$7.439 billion in the first
half of 2020. The US was the largest market but imports
fell in the first half of 2020 by about 10% compared to
2019.
Although China¡¯s wooden furniture exports to most
countries fell in the first half of 2020 exports to some
countries increased.
For example China¡¯s wooden furniture exports to
Malaysia, South Korea, Australia and Netherland rose
64%, 11%, 6% and 4 respectively in the first half of 2020.
Major ports for China¡¯s wooden furniture
exports
According to China Customs, China¡¯s wood furniture was
exported mainly through Dapeng and Shekou ports,
accounting for 19% and 15% of the national total, down
37% and 7% in value to US$1.38 billion and US$1.15
billion respectively.
In addition, Waigang, Yangshan and Qingdao are also
major ports for China¡¯s wood furniture exports in the first
half of 2020 and the value of China¡¯s wood furniture
exports through Waigang, Yangshan and Qingdao ports
was US$856 million, US$773 million and US$708
million, down 18%, 37% and 30%, accounting for 12%,
10% and 10% respectively.
The value of China¡¯s wood furniture exports to Malaysia
rose 64% to US$195 million in the first half of 2020 and
70% were mainly through Qingdao (25%), Shekou (16%),
Waigang (15%), Xiamen (11%) and Qingdao
Development Zone ports (9%).
Rise in China¡¯s wooden furniture imports from
Germany
According to China Customs the value of China¡¯s wooden
furniture imports fell 26% to US$389 million in the first
half of 2020. Italy, Germany and Vietnam are major
suppliers of China¡¯s wooden furniture imports, over 60%
of China¡¯s wooden furniture was imported from the three
countries.
The value of China¡¯s wooden furniture imports from Italy
and Vietnam dropped 26% and 44% to US$146 mil. and
US$38 mil. respectively in the first half of 2020. However,
the value of China¡¯s wooden furniture imports from
Germany rose 21% to US$66 mil. in the first half of 2020.
Yangshan was the major port for China¡¯s wooden
furniture imports as around 45% of all China¡¯s wooden
furniture imports were through Yangshan Port in the first
half of 2020.
   
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