In 2025, China’s imports of softwood lumber decline 12% year-on-year to 14.6 million m3, marking the third consecutive annual reduction in import volume. The value of softwood lumber imports contracts 11% to $3,002 million, while the average import price increases 1% to $206 per m3. China’s softwood lumber import volume in 2025 stands at about half of the 2019 peak level and represents the lowest annual volume of the past decade. The decline reflects weak construction activity, as commercial housing sales fall to 881 million m2 in 2025, which is 37% below the five-year average and 41% below the ten-year average. New home prices continue to decrease, with prices in December falling 0.4% from November and standing 2.4% lower year-on-year, while housing starts in December fall 19% year-on-year and remain 59% below the five-year average and 64% below the ten-year average. Russia accounts for 70% of China’s softwood lumber imports in 2025. …Canada supplies 8% of total imports… while Belarus also holds an 8% share.