The Global Timber Index (GTI) Report for November 2024 shows positive signs for the overall trend of global timber production and trade: the GTI indices for Ghana (59.6%) and Thailand (50.3%) both rose above the critical value of 50%, indicating an overall upward trend in the timber sectors of the two countries; and compared to the previous month, the GTI indices for Gabon (39.4%) and Mexico (35.5%) increased by 4.0 and 1.6 percentage points respectively, suggesting an easing in the downward trend of their timber sectors. Due to factors such the new year effect, the GTIs for China (49.7%), Republic of the Congo (45.7%), Brazil (35.8%), and Malaysia (18.8%) were below the critical value, thus indicating that the timber sectors in these countries remained relatively sluggish.

The GTI sub-indices also show encouraging signs on the supply and/or demand sides of some countries. In Africa, Ghana's timber supply became active, with both harvesting and production volumes increasing compared to the previous month; in Asia, Thailand saw an increase in new orders, particularly from the export market, and China's export orders continued to show a positive trend; in Latin America, the decline in orders for Mexico had eased.

In November, GTI pilot countries made encouraging progress in sustainable forest management. On November 6 during the 12th session of the Ghana-EU Joint Monitoring and Review Mechanism (JMRM) of the Voluntary Partnership Agreement (VPA), the Ghana’s Minister of Lands and Natural Resources announced that Ghana had set June 30, 2025, as the date to deliver its first consignment of FLEGT-licensed timber to the EU, and this milestone would make Ghana the first country in Africa to issue the FLEGT licenses. In the Republic of the Congo (ROC), International Tropical Timber Technical Association (ATIBT) launched the Project “Private Sector Support for the Domestic Timber Market” (ASP-MIB). Financed by the European Union Delegation to the tune of 2 million euros over 4 years, this project aims to structure and valorize the domestic wood value chain by encouraging the use of legal and sustainable wood in the domestic timber market. Besides, Brazil officially launched the country’s Platform for Climate Investments and Ecological Transformation (BIP). The platform was created to mobilize national and international capital in support of the Brazilian government's Ecological and Climate Transformation Plans, and will initially focus efforts on nature-based and bioeconomy solutions, including restoration and sustainable management of native vegetation, efforts to reduce deforestation, etc.

GTI Report - November 2024.pdf