The U.S. isn’t hungry for B.C. wood these days, but Asia sure is.
On Thursday, the provincial government said the export value of the province’s forest products sent to China and Japan “cracked” the 40% threshold for the first time.
“We’ve worked hard to lessen our reliance on the market south of the border, and that plan is clearly paying off now with the U.S housing market in a prolonged slump,” said Forests, Mines and Lands Minister Pat Bell.
According to the provincial government, 40.2% of the export value of B.C. forest products was shipped to China and Japan in September.
That’s compared with 42.5% that went to the U.S.
Year-to-date, the province said the U.S. accounted for 47.5% of B.C.’s forest products export value, compared with 33.8% for China in Japan.
By comparison, in 2005, the U.S. accounted for 67% of that export value while China and Japan’s shares totaled 17%.
“No question our forest industry has gone through some lean years, but clearly we’ve turned a corner and are poised for an exciting 2011,” Bell said.
Still, September’s export value numbers are skewed by the fact the U.S. is consuming far less B.C. forest products than it did five years ago.
According to Victoria’s State of Forests report released Thursday, the U.S.’s total lumber consumption has dropped 51% since 2005 and lumber prices hit a 40-year low last year. (See “Forest report sheds light on industry’s downturn” – BIV Business Today, December 9.)