Summary of Korean Lumber Shipments
BC softwood lumber export volume to South Korea in 2018 decreased by 18.5% to 205,228 cubic metres as compared to 251,992 cubic metres in 2017.
Several reasons contribute to this downward trajectory. First, BC Coastal shipments continue to decrease in the second quarter of 2018. Secondly, the South Korea government’s strong intervention policies to decrease new housing supply with the intention to curb the rising household debts and housing price has resulted in decreasing new housing stats.
Export value for 2018 slightly decreased by 1.5% to CAD$71,969 million as compared to CAD$73.096 million in 2017 mainly due to the upward Canadian lumber prices.