The value added of forestry and logging in Canada is forecasted to progress from 6.66 billion in 2024 to 6.89 billion in 2028. This steady growth represents a year-on-year increase ranging approximately from 0.90% to 0.74% annually. The compound annual growth rate (CAGR) over this five-year period stands at about 0.8%. In 2023, the value added was 6.60 billion, indicating a modest but consistent upward trend in the sector.
Future trends to watch for:
- Adoption of sustainable forestry practices and its impact on production.
- Technological advancements in logging operations enhancing efficiency.
- Regulatory changes affecting timber export and domestic markets.
- Climate change implications on forest productivity and resource availability.
