The Global Timber Index (GTI) Report for April 2024 revealed that the overall performance of global timber market was relatively sluggish this month, with the GTI indexes for Brazil, Indonesia, Thailand, Mexico, Republic of the Congo (RCO), Gabon, and Malaysia all below the critical value of 50%, registering 49.3%, 48.8%, 44.7%, 42.0%, 41.6%, 38.4%, and 31.1% respectively. However, China stood out with a GTI index of 52.3%, surpassing the critical value of 50%.

Despite the overall weaker performance of timber sectors in GTI producing countries, there had been some positive changes evident from the GTI data: in Brazil and Thailand, the volume of export orders increased significantly compared to the previous month; in Malaysia and ROC, the sub-index for existing orders recorded a rise, indicating some kind of improvement in such orders; and in terms of timber harvesting and production on the supply side, Indonesia’s timber sector showed a gradual increase in the volumes of both harvesting and production, and Gabon’s downward trend in harvesting and production eased.

This month, GTI pilot countries had also made encouraging progress in sustainable forest management. The Indonesian government had planned to engage in diplomacy by presenting comprehensive forest cover data and scientific methodologies to respond to the European Union Deforestation Regulation (EUDR), and the Environment and Forestry Minister said the country has a detailed forest database with Simontana (National Forest Monitoring System). In ROC, the Minister of Forest Economy highlighted the needs to explore new technologies and innovative practices, including remote sensing, drones, IoT sensors for tree health monitoring and fire prevention, among others. And in China, the government released Ecological Protection Compensation Regulations, which gives full play to the role of market mechanisms, and encourages social forces and local governments to engage in ecological protection compensation by purchasing ecological products and services in accordance with market rules.

GTI Report -  April 2024.pdf