Peru’s wood product exports declined 20% in 1Q
In the 1Q 2020 Peru’s wood product exports reached US$24.7 million FOB. This represents a decline of almost 20% compared to the 1Q 2019 (US$31 million FOB). Semi-manufactured products accounted for 58%, but were down 35% year-on-year. Sawnwood accounted for 31% but was down 50% year-on-year, as ITTO reported.
The main market for sawnwood in the 1Q was China with a 43% share. Exports of sawnwood to China increased 5 fold in the 1Q. Other markets for sawnwood were the Dominican Republic (down 13%) and Mexico (down 14.5%).
While still in negative territory exports of veneer and plywood held up better, dropping just 8% year-on-year, however, veneer and plywood exports are small accounting for around 3% of all wood product exports.
Of the US$24.7 million exported up to March, China was the main destination with a share of 40% but there was a 13% year-on-year decline. France was the second most important market in the 1Q accounting for 11% of exports but there was a huge, 33%, drop compared to the 1Q last year.
Mexico and the United States were the third and fourth placed destination with exports to the US making up 11% of all exports (down 27% year-on-year). Exports to Mexico dropped 46% in the 1Q.