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Report from
North America
Hardwood plywood imports unchanged in 2024
The amount of hardwood plywood imported into the US in
2024 was nearly identical to that brought in in 2023,
although the value of the wood rose substantially.
At 2,759,612 cubic metres, the volume of hardwood
plywood imported was less than 1% greater than in 2023.
Imports from top trading partners Indonesia and Vietnam
both surged in 2024 as both gained market share. Imports
from Indonesia rose 41% while imports from Vietnam
rose 44%.
While total volume remained steady in 2024 the dollar
value of imports rose a healthy 13% in 2024 to more than
US$1.7 billion. In December, import volume rose 3%
from the previous month to 262,273 cubic metres, which
was 5% lower than that in the previous December.
Imports of sawn tropical hardwood fell in 2024
US imports of sawn tropical hardwood fell 7% in 2024
compared with the previous year. The 179,542 cubic
metres of wood imported was significantly less than the
193,567 imported in 2023.
Imports from two top US trade partners, Indonesia and
Malaysia fell 9% and 36%, respectively, for the year while
imports from Brazil, the number1 trading partner in both
2023 and 2024, rose 5%.
Imports of Sapelli, the most imported sawn tropical
hardwood, fell 12% in 2024 while imports of Keruing
plunged by 47%. Imports of Ipe, which grew 17% in 2024,
surpassed Keruing as the second-most imported tropical
hardwood by volume.
At 12,421 cubic metres, December imports were down
27% from the previous month and 7% lower than that of
December 2023.
Canadian imports of sawn tropical hardwood rose
significantly in 2024, outpacing the previous year by 28%.
Imports from top trader, Cameroon, rose 46% in 2024
while imports from Brazil rose 54%.
Among the smaller trades imports from Bolivia grew by
73% last year while imports from Indonesia fell 61%.
Imports of Sapelli, the most traded wood, grew 28% for
the year.
Although the total yearly gains were impressive,
December was one of the worst months of the year, with
imports falling 18% from the previous month to a level
41% below that of December 2023.
Veneer imports rebounded in December
After a sharp downturn in November, US imports of
tropical hardwood veneer recovered smartly in December
by nearly doubling the previous month’s total. Still,
imports ended 2024 down 17% from the previous year.
Imports from Italy were especially weak in 2024, falling
77% from 2023 while imports from Cameroon, the top
trading partner for veneers, were off by 11% in 2024.
Imports from Cote d’Ivoire were the exception in 2024,
gaining 18% for the year, while imports from all other
major trading countries fell by at least 10%. While imports
of tropical hardwood veneer rose 99% in December from
the previous month, they still fell short of December 2023
imports by 6%.
Imports of assembled flooring panels surged in 2024
US imports of assembled flooring panels climbed by 32%
in 2024 with imports from top trading partners seeing even
larger gains. Imports from the top trading partner Canada
rose 34% while imports from Vietnam surged 44% and
Thailand vaulted 92%.
Imports from Indonesia (down 10%) and Brazil (down
29%) were among those losing share. Total imports of
assembled flooring panels topped US$340.7 million in
2024. For December, imports fell by 3% but were 7% up
from the previous December.
US imports of hardwood flooring were not nearly as
strong in 2024, as imports fell by 12% for the year.
Imports from Indonesia tumbled 34% while imports from
Malaysia slid 29%. Imports from Brazil gained 84% in
2024 to move ahead of Indonesia as the lead trade partner
for the year.
Flooring imports for 2024 were just over US$71million
after surpassing US$80 million in 2023. In December,
imports fell 39% from the previous month and were 22%
below that of the previous December.
Moulding imports leapt in 2024
US imports of hardwood moulding jumped 29% in 2024
as newer trade partners made the most impressive gains.
Imports from traditionally top supplying nations made
modest headway in 2024 including a 15% rise in imports
from Canada and a 7% rise in imports from Malaysia.
However, nearly all the boost in imports can be attributed
to trading countries that were not significant in the market
five year ago for example countries such as Vietnam,
Cambodia and Lithuania.
US imports of hardwood moulding exceeded US$163
million in 2024. In December, imports were 40% higher
than in December 2023 after rising 6% from the previous
month.
Wooden furniture imports exceeded US$21 billion in
2024
US imports of wooden furniture rose by 7% in 2024 as
imports from Vietnam showed solid growth. After falling
below US$20 billion in 2023, imports surpassed US$21.2
billion in 2024 but well short of the record US$25 billion
of 2022 but a respectable gain, nonetheless.
The rise was fueled by a 21% jump in imports from
Vietnam, a supplier that accounted for more than a third of
all 2024 imports. Imports fell for the year from other top
suppliers Canada (down 5%) and Mexico (down 6%),
while imports from most other trade partners were mostly
flat for the year. Imports from December were up 1% from
the previous month and up 5% from the previous
December.
Residential furniture - tariff uncertainties cloud 2025
outlook
New US residential furniture orders fell 9% in November
compared to the same period in 2023 according to the
January issue of Furniture Insights. This decline follows a
relatively flat October and marks a return to the downward
trend observed from May through September.
Approximately 40% of the survey participants reported
increased orders in November compared to a year ago.
However, new orders were up 5% compared to October
2024 figures although down slightly for the year-to-date,
noted Mark Laferriere, assurance partner at Smith
Leonard, the accounting and consulting firm that produces
the monthly report.
November shipments were down 1% compared to 2023
figures, and flat with October 2024. Year to date through
November 2024, shipments were down 7% compared to
2023. Backlogs were down 10% compared to November
2023, but up 1% from October 2024 "as current new
orders outpaced shipments during the last month."
On a seasonally adjusted basis, sales at furniture and home
furnishings stores were up 2.3% in December compared to
the previous month and up 8.4% from December 2023.
However, sales were down 2.2% for the year-to-date
December 2024, compared to the same period for 2023 on
an unadjusted basis, according to the January Furniture
Insights.
Future market projections are difficult, Laferriere said,
without knowing the extent of the impact tariffs will have
on the furniture industry, housing and the overall
economy. Domestic manufacturers, especially those with
"hybrid operations," will be impacted through their
outsourcing of materials and components.
"While likely greatly oversimplifying a very complex
situation, an additional 10% tariff on Chinese goods would
seem manageable given the inflationary pressures the
industry has dealt with in the last few years, coupled with
the long product pipeline allowing time for companies to
make necessary adjustments," Laferriere noted.
"What seems more immediately concerning is the
potential impact of tariffs on Canadian lumber utilised by
the US housing industry as well as Canadian energy and
the impact that could have on inflation in general, and
specifically, consumer spending, interest rates, and
ultimately housing activity that drives the furniture
industry.”
See:
https://www.woodworkingnetwork.com/furniture/residential-
furniture-orders-slump-november-cautious-optimism-2025
Homebuilders ask for tariff exemptions on building
materials
Citing the potential cost impact on US housing the
National Association of Homebuilders (NAHB) sent a
letter to the President requesting tariff exemptions on
building materials from Canada and Mexico.
See: https://www.nahb.org/-/media/NAHB/advocacy/docs/letter-
to-president-potential-tariffs-
013125.pdf?rev=4f33c6137e9846b1866e4692241d2a1d
The President announced an across-the-board tariff of 25%
on Canadian and Mexican goods coming into the United
States, including tariffs on building materials that could
increase construction costs and harm housing affordability.
As of 3 February tariffs on both countries have been
delayed for one month as negotiations continue.
The 25% tariff on softwood sawnwood products from
Canada would be in addition to an effective 14.5% duty
rate already in place, meaning that the overall effective
Canadian lumber tariffs will rise to nearly 40%.
The NAHB states that proposed new tariffs on China,
Canada and Mexico are projected to raise the cost of
imported construction materials by US$3 billion to US$4
billion, depending on the specific rates. For some
materials, where imports are critical to supply, prices
could see dramatic increases, adding layered costs that
could substantially impact builders’ ability to deliver new
projects.
The NAHB estimates that US$184 billion worth of goods
were used in the construction of both new multifamily and
single-family housing in 2023.
About US$13 billion of those goods were imported from
outside the US, meaning approximately 7% of all goods
used in new residential construction originate from a
foreign nation.
See: https://www.nahb.org/advocacy/top-priorities/material-
costs/how-tariffs-impact-home-building
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