The production of wood chips, wood particles, and wood residues in Venezuela experienced significant fluctuations from 2013 to 2023. The production peaked in 2014 with a 137.05% increase, but faced a steep decline by 63.76% in 2015. This was followed by another significant drop of 53.05% in 2016. However, production rebounded in 2017 with a 79.67% rise and continued to grow steadily until 2019, where it stabilized at 338 thousand cubic meters through 2022. Despite a slight decline of 3.32% in 2023 to 326.79 thousand cubic meters, the CAGR over the past 5 years was -0.67%.
Looking forward, forecasts indicate a consistent yet modest growth in production from 2024 to 2028, with a 2024 projection of 329.52 thousand cubic meters. The 5-year CAGR from 2024 to 2028 is expected to be 0.64%, resulting in an anticipated production value of 340.17 thousand cubic meters by 2028, marking a 3.23% growth over the period.
Future trends to watch for include:
- Potential policy changes that could impact the timber industry.
- Global demand shifts for wood products.
- Environmental regulations and their effects on production capabilities.
- Technological advancements in wood processing and efficiency gains.
