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In the second half of 2022, U.S. imports of hardwood plywood slowed dramatically from the torrid pace in the first half of the year, according to the Decorative Hardwoods Assn.
“In the first six months of 2022, imports soared by 77% in value and 37% in volume, but the year ended with total growth of 12% in value, to about $2.1 billion, and a decline of 0.3% in volume,” it said.
Imports from Russia, largely due to the Russian-Ukraine conflict, fell by 34% in volume. In April 2022, the U.S. raised tariffs on Russian birch plywood to as high as 50%. Despite the drop in volume, however, Russia is still America’s third-largest source of plywood.
Imports from Vietnam – America’s second-largest source – slowed, ending the year up by 14% in volume after starting the first half up by 93%. This also could have been due to tariffs. In August 2022, the U.S. Dept. of Commerce ruled that certain hardwood plywood products imported from Vietnam were actually sourced from China and now subject to tariffs as high as 200%.
Indonesia, America’s largest source of hardwood plywood, saw a slight 4.5% increase overall.
Source: Decorative Hardwoods Assn.