In 2023, the EU27 imported 1.59 million tonnes of tropical wood and wood furniture products with a total value of US$3.18 billion, respectively 18% and 27% less than the previous year. This marked a return to the historically low pre-pandemic level. EU27 import value of tropical wood and wood furniture products last year was only slightly above the annual average of US$3.06 billion during the pre-COVID 2013 to 2019 period.

When account is taken of inflation, import value last year was about 10% below the pre-COVID level. Import quantity in 2023 was around 12% below the annual average of 1.8 million tonnes during the 2013 to 2019 period.

The sharp rise in unit prices for tropical wood and wood furniture imported into the EU that occurred during the pandemic was also partially reversed last year.

The average price per tonne of all EU27 tropical wood and wood furniture imports fell from a record high of US$2250 in 2022 to US$2000 in 2023.

In reviewing EU27 tropical imports during 2023, it is notable that the decline in trade was almost universal, impacting on all product groups and all supply countries almost without exception. A downturn in which all products and suppliers are losers is a rare event indeed and is another indication of the sheer scale of the shift in trade last year.