The Global Timber Index (GTI) Report for February 2025 reveals encouraging developments in the global timber market. The GTI for Ghana was at 53.3%, above the critical value of 50% for the second consecutive month and signaling an overall improvement in its timber sector. The GTI for Thailand stood at 47.1%, with harvesting, production, and domestic orders all showing positive signs despite a decline in export orders. Compared to the previous month, the GTIs for Mexico (47.8%), the Republic of the Congo (45.6%), China (44.1%), Brazil (43.2%), Gabon (34.7%), and Malaysia (20.6%) rose by 10.7, 3.7, 4.6, 8.3, 2.3, and 0.5 percentage point(s) respectively, indicating an easing in the downward trends in those timber sectors.

Positive signs are evident in some of the GTI sub-indices. Thailand continued to see growth in timber production; Mexico's domestic market improved; in Ghana, the total volume of existing orders was relatively sufficient, providing short-term support for production and business activities in its sector; in addition, Chinese enterprises were relatively optimistic about the overall trend of the timber market over the next six months.

Several countries increased policy support for their timber markets this month. On February 27, Thailand's Ministry of Commerce announced the simplification of export procedures for the export of Thai wooden products. Except for Siamese Rosewood, which remains banned from export, companies are no longer required to obtain a permit to export these wooden products. And it is expected that the cancellation of the requirement to get permit will greatly reduce complicated steps and costs for Thai wood traders. On February 19, Gabon's Transitional President announced that the government would immediately allocate 30 billion FCFA to revive stalled construction projects, and the move is expected to boost the construction sector's demand for timber. On February 25, Brazil’s Chamber of Deputies unanimously approved the Complementary Bill No. 167/2024 (Projeto de Lei Complementar nº 167/2024) and then submitted it to the Senate for review. The bill stipulates the refund of taxes equivalent to 3% of export revenue for micro and small exporting companies, which will ease tax burden on their timber exports.

In the realm of sustainable forest management, GTI pilot countries also made some progress. Brazil’s National Biodiversity Commission (Conabio) established national biodiversity targets for the period 2025 to 2030, including a target of achieving zero deforestation in the country. Mexico’s National Forestry Commission (CONAFOR) released “Operational Rules of the Sustainable Forest Development Programme for Well-Being 2025” (Reglas de Operación del programa Desarrollo Forestal Sustentable para el Bienestar 2025), aiming to support owners, legitimate possessors and inhabitants of forest areas to implement actions that contribute to the protection, conservation, restoration and sustainable management of forests. Congo’s web portal for the Project "Operationalization of the National System for Measurement, Notification and Verification (SYNA-MNV) of the Republic of the Congo" had completed more than eighty percent of its construction. The portal is a platform for showcasing Congo’s forest monitoring data, featuring three core functions: querying photographic and statistical data, disseminating information, and generating reports.

GTI Report - February 2025.pdf