The forecasted import value of logs such as Keruing, Ramin, Kapur, Teak, Jongkong, and Merbau into Canada shows a steady increase from 2024 through 2028. The series begins at $177.92 thousand in 2024 and grows to $200.43 thousand by 2028. This represents an annual progression, with a compound annual growth rate (CAGR) of approximately 3% over these five years.
Future trends to watch for include:
- Potential changes in international trade policies that might affect import volumes and values.
- Fluctuations in global demand for these wood types, which may influence pricing and supply.
- Economic factors within Canada, which could impact construction and furniture industries, leading to variations in wood imports.