North American softwood lumber production down 5% in 2023

ResourceWise Forest Products Blog
January 10, 2024
Category: Finance & Economics
Region: Canada, United States

Total softwood lumber production in Canada and the US was at 73 million m3, down about 5% year-over-year from 2022’s 77 million m3. The major drops occurred primarily in British Columbia and the US South at -15% and -9% year-over-year, respectively. …Canada remains the top importer of lumber to the US. America can’t meet its own lumber demand despite a production increase that has trended upward in recent years. However, Canada has faced an ongoing set of environmental challenges impacting its production capacity, mill operations and general investor confidence. …Between 2017 and 2022, production in BC went down by 23%. To balance out the market gap in decreased Canadian production, many European producers are stepping in. …On the other side of the continent, Quebec’s lumber market has also endured a challenging 2023. The 2023 Canadian wildfires yielded profound effects on the region’s wood markets.

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