US hardwood lumber exports to Mena up 6pc in H1
ABU DHABI, August 8, 2024
The American Hardwood Export Council (AHEC), the leading international trade association for the American hardwood industry, has revealed a notable 6% growth in exports of US hardwood lumber to the Middle East and North Africa (Mena) region during the first half of this year.
Shipments reached a total value of $34.93 million during the six-month period, with significant increases seen in hardwood lumber exports to UAE, Saudi Arabia, and Egypt, stated AHEC, citing the latest data from the US Department of Agriculture (USDA).
Exports to the UAE saw a remarkable 27% increase in volume, reaching 10,192 cu m, while Saudi Arabia experienced an 8% rise in volume, totaling 4,472 cu m.
Egypt too showed a positive trend with a 15% increase in volume, amounting to 3,651 cu m.
These gains reflect the booming construction sector in the Arabian Gulf, particularly in the UAE and Saudi Arabia, as well as Egypt’s gradual economic recovery after several challenging years.
However, there were slight decreases in shipments to Turkey and Morocco. Exports to Turkey declined by 2% in volume, totaling 8,458 cubic meters. This decrease is attributed to the global economic downturn, which has resulted in decreased demand for thermally-modified ash and red oak, of which Turkey is a major producer and exporter.
In Morocco, shipments saw a more significant downturn of 24% in volume, reaching 4,758 cubic meters. This decline is most likely due to overstocking in 2023, representing a market correction rather than a sustained decrease.
In addition to hardwood lumber exports, the report also highlighted a 4% increase in the total value of veneer exports, which reached $13.89 million. This growth in veneer exports indicates a steady demand for high-quality American veneers, with Turkey and the UAE remaining as the top markets.
The Turkish market has consistently shown a strong preference for American veneers, driven by the country's vibrant furniture and interior design industries. Meanwhile, the UAE continues to be a significant market due to its thriving real estate and construction sectors,which demand premium materials for high-end projects.
These positive trends underscore the sustained demand for American hardwoods in the MENA region, driven by the region’s robust construction activities and economic dynamics.
The ongoing urban development and infrastructure projects in the MENA region have created a substantial demand for high-quality construction materials. American hardwoods are prized for their durability, aesthetic appeal, and versatility, making them a preferred choice for architects, builders, and designers across the region.
Roderick Wiles, AHEC Regional Director, said: "The growth in US hardwood lumber exports to the Mena region reflects the ongoing strength and appeal of American hardwoods in these markets. We are particularly encouraged by the significant gains in the UAE, Saudi Arabia, and Egypt, and we remain committed to supporting and expanding our presence in these vital markets."
"Wiles further emphasized the importance of fostering strong relationships with key stakeholders in the region, including local contractors, architects, designers and industry professionals, to ensure the continued growth and success of American hardwood exports," he added.-TradeArabia News Service
