Research indicates sharp increase in Russia’s import of woodworking machines
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Research indicates sharp increase in Russia’s import of woodworking machines

Views: 8     Author: Site Editor     Publish Time: 2019-12-19      Origin: Site

March 29, 2018 - In 2017, Russia sharply increased woodworking machine imports (+60.7 per cent) after a decline of 15.6 per cent in 2016. This may indicate that companies of Russian forest-based industries have adapted to the current exchange rate of the national currency, according to the analytical report "Russian forest-based industries in 2017,"  prepared by Lesprom Network's Research Department.

Investments in fixed assets in the production of paper and paper products increased by 33.3 per cent, and investments in wood processing (excluding furniture production) up 5.5 per cent.

In 2017, favourable situation on foreign markets formed a steady growing demand for the main products of the Russian forest-based industries. At the same time, the turn of the national economy from a recession to growth (GDP grew by 1.5 per cent) led to a revival of demand for products for domestic market. These trends are expected to continue in 2018.

China remains the main consumer of products of the Russian forest-based industries. In 2017, China’s share in the Russian export of logs was 66 per cent, in lumber exports — 55 per cent, in pulp exports — 58 per cent. According to the World Bank, the growth of China's economy amounted to 6.8 per cent in 2017, and it is expected to grow 6.4 per cent in 2018. According to the analytical report, the process of structural changes in exports (from raw materials to wood processing products) continues: Russia’s log exports decreased, but lumber exports increased by 10.1 per cent in 2017. Overproduction in the Russian MDF market led to an increase in MDF exports by 36.1 per cent compared to 2016, and MDF exports grew almost 2 times compared to 2014.

Growth (+34.1 per cent) of wood pellets production in Russia in the coming years will continue at a rapid pace, due to Russian and foreign companies are planning to launch a new production facilities in the country, according to the analytical report.

Increased attention of the state to the development of the forest-based industries and the beginning of a number of incentive measures for the development of wooden housing construction can contribute to increased demand for lumber within the country in the next 3–5 years.

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