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Report from
North America
Sawn tropical hardwood imports drop further
US imports of sawn tropical hardwood fell by more than
10% for the second straight month in September. Imports
fell by 19% in September after a 14% decline in August.
The 12,198 cubic metres of tropical hardwood imported in
September was 32% less that that imported in September
2023 and was the lowest volume imported in any month so
far this year.
Imports from top trading partners Brazil and Indonesia
were down 11% and 13%, respectively, while imports
from Malaysia sank 63% and imports from Cameroon fell
29%. Imports of Ipe (down 31%) and Sapelli (down 24%)
both fell sharply for the second consecutive month. Total
US imports of sawn tropical hardwood are down 10%
versus last year through September.
Canada’s imports of sawn tropical hardwood tell a similar
story, falling 19% in September after falling 13% in
August. Despite the drop, the month’s imports were 23%
above those of last September.
Imports from Cameroon rose 72% in September and were
up 81% for the year so far. Imports from most other
trading partners fell sharply for the month but remain
ahead of last year’s pace through September. Total
Canadian imports of tropical hardwood were up 43%
versus 2023 for the year through September.
Hardwood plywood imports – volumes down costs up
US imports of hardwood plywood dipped 4% in volume
for the second consecutive month in September. The
201,955 cubic metres of plywood imported was, however,
11% more than the volume imported in September 2023 as
imports didn’t decline as steeply as they do historically in
early autumn.
Despite the loss of volume, the dollar value of imports
rose 4% over the previous month. Imports from China fell
41% in September and are down 22% for the year while
imports from most other top trading partners are up
sharply for the year.
Total volume of hardwood plywood imports for the year is
up 8% over last year through September.
Veneer imports fall in September, but not as much as
in other years
A 29% decline in September in US imports of tropical
hardwood veneer is hardly good news, but it is not as bad
as it may appear. September is usually a slow month for
these imports. Over the past five years imports for
September have plunged to only half to a third of what
they’ve been in August, so a loss of only 29% is minor.
This is reflected in the fact that the month’s imports were
6% above those of September 2023. Imports from China
were especially robust, rising to their highest level since
last October. Total veneer imports for the year are 13%
below that of 2023 through September.
Hardwood flooring imports recover
After falling to a three-year low in August, imports of
hardwood flooring rose by 17% in September. Even with
the gain, imports for the month came in 8% lower than for
September 2023. A 26% increase in imports from
Indonesia helped fuel the gain while imports from China,
Malaysia, Vietnam and Brazil all trended downward. Total
imports of hardwood flooring are down 13% versus last
year for the year so far.
US imports of assembled flooring panels rose again in
September, gaining 7% over the previous month. The
increase is the fifth gain in the last six months. Imports
from top-supplier Canada grew by 50% while imports
from Indonesia jumped by 92%. Total imports continue to
strongly outdo last year, up 36% over 2023 figures
through September.
Moulding imports rise to highest level in two years
US imports of hardwood moulding rose 16% in September
to hit their highest level since September of 2022. At over
US$16 million, the total for the month was 33% better
than that of a year ago. The gain was fueled by a 22% rise
in imports from top-supplier Canada and a 93% leap in
imports from Brazil.
Despite the rally, imports from Brazil are still down 45%
versus last year as Canada continues to gain market share.
Total US imports of hardwood molding are up 27% versus
2023 through September.
US wooden furniture imports also hit a two-year high
US imports of wooden furniture moved higher in
September, rising 6% over the previous month. The gain
pushed imports to their highest level since September
2022, which was the last time monthly imports were above
US$2 billion.
The US$1.85 billion of wooden furniture imported in
September, while not quite back to 2022 levels, was an
impressive 19% better than September of last year.
Imports from Vietnam and Canada were both up 14%,
while imports from India and Indonesia both rose more
than 25%. Total imports of wooden furniture for 2024 so
far are up 7% over 2023.
On a seasonally adjusted basis, sales at furniture and home
furnishings stores were down 1.4% in September from the
previous month, and down 2.2% from September 2023,
according to the latest survey by Smith Leonard. Sales
were also down 5.1% for year-to-date September 2024
compared to the same period for 2023 on an unadjusted
basis.
New orders for residential furniture dropped 7% in August
compared to 2023 figures, continuing the trend of year-
over-year declines in growth, according to the October
issue of Furniture Insights. Approximately 40% of the
survey participants reported increased orders in August
compared to a year ago.
New orders were up 12% compared to July figures, and
are up 1% for the year-to-date, “though that spread has
continued to narrow with the last four months’ declines,"
said Mark Laferriere. assurance partner at Smith Leonard.
Laferriere added that the mood of the market seemed to be
largely positive, though the US elections and potential for
tariffs were also on many people’s minds.
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