Costa Rica: Imports and Exports of Wood and Furniture in 2013

A drop in exports of teak was the main reason for the increase in the trade deficit in the sector, which went from $3.5 million in 2011 to $26 million in 2013.

Friday, March 21, 2014

From the concluding chapter of a report by the National Forestry Office entitled "Trade balance and main trends in exports and imports of wood and wood furniture in Costa Rica"

IV. Conclusions

1. The trade deficit in wood products and furniture increased significantly in 2013, reaching $26 million. However, it did not match the levels of 2008, when $39.6 million was reported.

2. The fall in exports is explained due to the drastic reduction of teak timber destined for Southeast Asia, which confirms our predictions, given that the rate of reforestation is insufficient to meet demand.

3. Change is evident in the trend of imports of wooden furniture and lumber. In view of what happened in 2011 and 2012, it was expected that these imports would maintained steady growth. However, the rate dropped to such an extent that they remained stable compared to 2012. In large part, this situation reflects the dip reported in the construction industry, which is the niche market for these imported products.

4. Regarding the origin of wood imports: Chile remains in first place, followed by China and the United States.
In addition, the emergence of Colombia is seen as one of the main countries of origin of imported wood.

5. A marked improvement in the terms of trade of wooden furniture trade is observed. By 2012, for every dollar exported, $5.4 was imported, while in 2013 it was $3.6.

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