Russia: logs and woodworking products exports have been declining for two quarters

Two quarters in a row there is a decrease in Russian logs and woodworking products exports. In 4Q 2019, the decline was 6% YoY, and in 1Q 2020 was -7% YoY. It’s forecasted, 2Q 2020 is also disappointing and markets are just starting to recover after a pandemic knockdown.

In general, a year of 2019 kept a growth at the level of 1-2% pace and the decline began at the end of the year. The last time such a protracted reduction in the volume of Russian timber industry exports was observed during 2012, and the peak was in 3Q 2012 – then the decrease was 12% YoY.

A record-long decline occurred during the crisis of 2008-2009. Export has been “in a fever” for two years in a row. In 1Q 2009, there was the most catastrophic drop in logs and woodworking products exports at 47% YoY.