US hardwood exports to China jump to record high

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Amidst the trade dispute between China and the US, the hardwood exports to Southeast Asia and Greater China rallied and exceeded the historic high, as compared to the same period of time in the past few years, the American Harwood Export Council (AHEC) reports.

Fueled by the strong performance of Mainland China and Vietnam market, the exports value to Sea and Greater China markets was over $644 million, rose 12.8% (YoY) and set a new record in Q1 of 2018.

Sea and Greater China markets accounted for over 62% of all global exports. Greater China market increased at 14.3% (YoY) to $563 million and was the highest value among the same period of time in the past few years, AHEC says. 

Performance in Southeast Asia market mixed but overall exports value to this region was up 3.3% (YoY) to $81 million, in which 76.2% was contributed by Vietnam. According to AHEC, the Vietnam market rose 8% to $61.7 million (YoY) in which the export value of hardwood lumber up 9% to $49.6 million and veneer soared at 54% to $1.4 million (YoY).

Indonesia and Philippines markets also recorded a positive growth at 5.2% and 12.7% respectively. Other Sea markets dropped at different level, Malaysia down 18.9%; Thailand down 16.5%; Singapore down 25%.

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