As Greater Toronto Area homeowners continue to find themselves going toe-to-toe with affordability, new data suggests that they’ve become “less...
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Australia’s total imports of Engineered Wood Products (EWPs)* were valued at AUD312.0 million on a free-on-board (FOB) basis, year-ended May 2024. The result saw the value of annual imports increase 0.4% compared with the prior month. Source: IndustryEdge The resilience of the imports in a period when demand for many products has deteriorated under the weight of cost-of-living pressures, underscores the increase in prices for many engineered wood products, as well as their importance to Australia’s dwelling construction industry. Australia’s EWP Imports by Main Type: Jan ’22 – May ‘24 (AUD million) The chart shows the peak import month was August 2022, when imports were valued at AUDFob49.7 million. Since August 2022, imports fell sharply but have recently been in the range of AUDFob20-30million, at least on a value basis. In May, the value of imports totalled AUD25.2 million, down 4.1% compared with the last month. Below, the table shows the experience of the last three months. It should be noted the ‘Other’ designation is widely expected to include some Laminated Veneer Lumber (LVL). * These measures are based on data analysis by IndustryEdge, of a data series that commenced January 2022. The relatively new status of the data impedes some analysis, but that will improve over time. It should be noted that some imports of EWPs may still be reported under previous import codes. LVL (Laminated Veneer Lumber) Over the year-ended May 2024, specifically declared imports of LVL totalled 122,400 m3. These specific imports are not all the LVL imported to Australia. As described above, much of the volume is expected to be included in the ‘Other’ designation for engineered wood product imports. Specifically declared imports of LVL are the only engineered wood product for which volume or quantity details are available. Australia’s LVL Imports by Grade: Jan ’22 – May ’24 (m3) GLT (Glue Laminated Timber) Imports of GLT were valued at AUD44.6 million year-ended May 2024, 1.6% lower than for the previous month. Monthly imports were valued at AUD3.4 million in May, 8.7% lower than the previous month’s AUD3.7 million. As the chart and table demonstrate, New Zealand (33.9%), Indonesia (22.0%), and China (18.2%) dominated import supply across the year. Unfortunately, the data does not provide further details – of volumes, quantities or species for instance – but the data does add to understanding of the total size and value of the Australian market. I-BEAMS Imports of I-Beams were valued at AUD55.8 million year-ended May 2024. Monthly imports in May totalled AUD3.7 million. As the chart and table demonstrate, Poland (25.6%), UK (23.2%), and Vietnam (22.8%) dominated import supply over the year. Australia’s I-Beam Imports by Country: Jan ’22 – May ’24 (AUD million) CLT (Cross Laminated Timber) Imports of CLT were valued at AUDFob1.36 million year-ended May, down 4.8% on the year-ended May. Over the year, supplies from Austria accounted for 94.2% of the total value. For more information visit www.industryedge.com.au
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