In February 2023, the Global Timber Index (GTI) report showed that the the timber market in some GTI pilot countries gradually recovered and more production and operation activities were coducted. The global timber industry exhibitions and sales activities were launched one after another, which promoted the wood trade to be more active. In February, although the GTI-Gabon index and the GTI-Brazil index were below the critical value of 50%, they increased significantly compared with the previous month and the GTI-Indonesia index also rose slightly compared with the previous month, which means that the contraction of the timber industry in Gabon, Brazil and Indonesia began to slow down. GTI-China Index registered 52.4%, the production and orders quantity of Chinese timber enter prises increased compared with the previous month, the downward trend of foreign orders was eased, and activities such as procurement and supplier distribution were more active than the previous month. Affected by insufficient global demand, the timber industry market in Malaysia, Mexico and ROC were still slightly depressed. At the same time, enterprises were facing the problems of insufficient supply of raw materials and overstock of products. The rising costs and the relatively depressed market bring challenges to the development of timber enterprises. At present, timber exhibitions in some countries have been launched, Malaysian International Furniture Fair (MIFF) and Export Furniture Exhibition (EFE) were held in Kuala Lumpur. It was expected to play a positive role in promoting global timber trade. Detailed data and analysis were shown in the GTI report of pilot countries.

GGSC-GTI Report-February 2023.pdf