Ukraine’s plywood exports surged 38% for the first seven months of 2024, making the war-torn country one of the European Union’s most important plywood markets. That is according to Eurostat—the European Union’s trade statistics bureau—and plywood now comprises more than 97% of all Ukrainian timber traded into global markets, led by Poland (32%), the Netherlands (17%), the Czech Republic (9%), and Hungary (7%).

Since Russia’s full-scale invasion, the value of the Ukrainian forest economy has drastically increased relative to all other industries. As a result, Ukraine is now ramping up timber cutting to supply energy, front-line military fortifications, wooden pallets and plywood furniture into Europe.

“This is because Ukraine’s main industrial areas were located in occupied and fought-over territories…with forests, thankfully, largely located in the “safe” areas of Ukraine and thus remain a largely intact resource,” according to a report provided by the Basel Institute of Governance, which added that forest products made up less than 1.5% of Ukraine’s GDP in the lead up to the conflict.

As it stands, Ukraine exported more than 128,000 cubic metres of plywood to the European Union for the year ending July, generating $107 million. The average price per cubic meter was $836, reflecting a 19% decrease in price compared to the previous year. The vast majority of this growth came from increased shipments to Poland (which rose 84%) and Hungary (growing 92% for the year).

Source:  Eurostat