Global trade in wood and paper products dropped steeply from record levels in 2021 and 2022, with the paper trade continuing to decline under pressure from digital media, according to the latest data released by the Food and Agriculture Organization of the United Nations (FAO). The Global forest products facts and figures 2023 report says the worldwide wood and paper products trade saw a significant drop of 12 percent: exports decreased by $64 billion to $482 billion in 2023. This level was still above the highest international trade value ever seen before 2021. But significantly, the fact that trade value declined faster than traded quantities for most of the products indicates a drop in forest product prices in 2023 amid a general slowdown in economic growth. Global production of paper and paperboard contracted by 3 percent, owing to a continuous replacement of printed media with digital products.