What’s the Story With Q3 2023 Southern Pine Exports?
Q3 Southern Pine exports (treated and untreated lumber) are running 5% higher in 2023 over 2022, according to September data from the USDA’s Foreign Agriculture Services’ Global Agricultural Trade System.
Southern Pine lumber exports total 378.7 Mbf through September. While third-quarter Southern Pine exports were up a slight 1.3% over the second quarter, they were up 10% over the first quarter of 2023. Looking at year-over-year numbers, 2023 outperformed the third quarter of 2022 by 4%. Even though Southern Pine lumber exports lagged the second quarter of 2022 by 2%, the first quarter was up 13% over the year.
Q3 2023 Southern Pine Exports notes of interest
Our international consultants weighed in with the following thoughts on the third-quarter 2023 Southern Pine exports. Here are their key takeaways:
- Mexico retained its status as the largest export market (by volume) of Southern Pine and treated lumber for the seventh month after taking over the Dominican Republic. Mexico is running 21% ahead of 2022 YTD as of September and has imported 91 Mbf in Southern Pine so far this year compared to the Dominican Republic’s 62.1 Mbf.
- The Dominican Republic remains the No. 2 importer of Southern Pine, running 23% ahead YTD over 2022.
- India continues to outpace 2022’s YTD exports through September, up 335% YTD at 22.7 Mbf.
- Exports to China continue to follow a cooling trend that started in June after a strong start to 2023. Southern Pine and treated lumber exports, however, are still up considerably compared to the same period in 2022, running 139% ahead of last year.
- When looking at China exports by quarter, the Asian country was up 580% in Q1 over 2022. That dropped to a 131% lead in Q2 over 2022 and just 17% ahead of 2022 in Q3.
- With the exception of Belize, the Dominican Republic, Jamaica, Mexico, Honduras, and Trinidad and Tobago, exports to the Caribbean and Central American region continued to trend downward through September compared to same period in 2022.
- Honduras: Up 642% over the year at 3.7 Mbf YTD.
- Belize: Up 79% at 7 Mbf.
- Jamaica: Running 34% ahead of 2023 with 39.5 Mbf.
- Taiwan: The Asian island is still up 25% over the year with 3.5 Mbf, despite cooling off in September.
- Philippines: Down 77% YTD at 2.8 Mbf so far in 2023.
- When looking at exports to the Philippines by quarter, the archipelago has played catch up this year. Going from 83% behind 2022 through the second quarter to only running 56% behind the previous year in Q3.
- Pakistan: Down 60% at 4.5 Mbf.
- Canada: Down 43% at 16.1 Mbf.
Exports of Southern Pine lumber (treated and untreated) were up 8.2% in September over August and 9% higher than the same month in 2022. Total softwood imports, meanwhile, were up 3.5% over the month but down 6% over the year.
SFPA members: Don’t forget to check out the members-only site to get a full breakdown on every country’s import and export numbers for Southern Pine and treated lumber!
*Note: data are expressed in Million Board Feet (Mbf) unless otherwise indicated.
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