Engineered Wood Imports Fell 26% in January
Washington, DC, March 24, 2023- After increasing by 11% in 2022, the volume of U.S. imports of multilayered wood flooring fell by 26% in January versus one year ago, reports the Decorative Hardwoods Association.
Vietnam and Cambodia remain the two largest import sources, overtaking China. Vietnam, Cambodia, and China comprise 28%, 20%, and 17% of imports by volume, respectively. Imports from Vietnam grew by nearly 20%.
In addition, the value of U.S. imports of hardwood plywood dropped by 69.6% as volume fell by 67.7% in January versus one year ago. Imports rose by 12% in value in 2022 to more than $2.1 billion. Imports from Indonesia, the top source, sank by 59.9%. Imports from Vietnam and Russia fell by 86.3% and 82%, respectively.