According to data recently released by the Indonesian Ministry of Environment and Forestry, as of September this year, Indonesia's wood products exports reached US$11.07 billion, an increase of 13.1% compared with the same period last year; compared with the total export value of US$13.57 billion in 2021 , the export value in just 9 months has reached 81.6% of last year.<\/p>\n
Asia<\/strong><\/p>\n Indonesia's timber and wood products are mainly directed for the Asian market, of which China is one of its largest markets. However, under the circumstance of China's implementation of Covid-19 control measures and the continued sluggish market demand, Indonesia's exports of wood and wood products to China have slowed down.<\/p>\n Indonesia adjusted its exports of wood and wood products, and then increased exports to Japan and South Korea, two major Asian markets.<\/p>\n Data show that as of September this year, Indonesia's timber exports to Japan increased by 15% year-on-year to US$1.14 billion; exports to South Korea increased by only 22 to US$585 million. At the same time, the Indian market still shows strong potential, continuing to grow in the nine months of this year, and has now reached US$360.8 million, up 35% year-on-year.<\/p>\n In the Chinese market, as my China's market demand continued to decline in the second half of the year, as of September this year, Indonesia's exports of wood and wood productswere US$2.36 billion, a year-on-year decrease of 21.1%.<\/p>\n European and American markets<\/strong><\/p>\n In fact, the Indonesian Ministry of Finance stated that local forest companies need to try to diversify their export markets. Indonesia is increasing its exports to the EU and UK markets in this year's exports of timber and wood products.<\/p>\n The same is taken from the data from January to September this year. Indonesia's exports of wood and wood products to the EU and the UK increased by 54% year-on-year to US$1.3 billion, a marked increase over the Asian market.<\/p>\n Indonesia's exports of wood and wood products to the United States are slowing as inflation and interest rates continue to rise. Although Indonesia's exports to the US market have remained positive throughout the year, the situation reversed in September.<\/p>\n Affected by the decline in the US market demand, compared with the US$2.19 billion in the same period last year, the export value from January to September this year was only US$1.77 billion, a year-on-year decrease of 19%; Indonesia's furniture exports to the United States increased from US$1.41 billion in the same period last year. will be $849.3 million this year.<\/p>\n Indonesia is currently shifting its exports to the EU, the UK, Japan and India as much as possible to reduce losses due to lower market demand in China and the United States. Although the absorption of EU countries is still less than the two major markets of China and the United States, it can be expected that the EU or India will become Indonesia's third major export market.<\/p>\n Overall, compared to last year, Indonesia's wood products exports in the first nine months are clearly accelerating. Moreover, it is not easy for Indonesia to achieve sustained growth in exports even as demand from its main export markets China and the United States continues to be sluggish.<\/p>","protected":false},"excerpt":{"rendered":" According to data recently released by the Indonesian Ministry of Environment and Forestry, as of September this year, Indonesia’s wood products exports reached US$11.07 billion, an increase of 13.1% compared with the same period last year; compared with the total … Continue reading