The Global Timber Index (GTI) Report for January 2025 reveals that the overall performance of timber sector in Ghana has picked up. GTI for the country registered 68.2%, rising above the critical value of 50% again after one month. However, GTIs for Thailand (49.0%), Republic of the Congo (41.9%), China (39.5%), Mexico (37.1%), Brazil (34.9%), Gabon (32.4%), and Malaysia (20.1%) were all below the critical value.

In January, enterprises in many countries took holidays to celebrate the New Year, leading to seasonal fluctuations in their timber markets. In China and Malaysia, employees returned to their hometowns during the traditional New Year holidays and timber enterprises proactively reduced production. The GTI pilot enterprises in Brazil also reported that holiday factor led to a slowdown in raw material procurement and production in January. Despite continued downturn in the global timber market, positive signs are evident in the GTI sub-indexes. For example, production in Ghana was active, new orders and export orders for Thailand increased compared to the previous month, and international market demand for both Mexico and Republic of the Congo was relatively stable.

Looking back at the past year, timber sectors in some GTI pilot countries have withstood pressure and achieved steady development amidst shrinking international demand. For instance, the Brazilian Association of Mechanically-Processed Timber (ABIMCI) reported that overall, the country’s timber sector in 2024 maintained relatively stable performance in terms of export volume, and in the last few months of the year, there was a small increase in shipments, largely due to the clearing of backlog at ports and the fulfillment of old orders. Regarding timber market trends over the next six months, GTI sample enterprises in Gabon, Ghana, Mexico, and China have relatively high confidence, with market expectation sub-indices at or above 50%. In contrast, GTI sample enterprises in Malaysia, Thailand, Republic of the Congo, and Brazil lack confidence and will need more support from governments, international organizations, and associations until there are clear signs of expansion in short-term market demand.

GTI Report - January 2025.pdf