In 2024, China’s total import and export volume of wood-based panels reached 19.989 million cubic meters (converted), a year-on-year increase of 25.89%. The total import and export value amounted to US$7.855 billion, up by 14.39% year-on-year.

China exported a total of 17.8599 million cubic meters (converted) of wood-based panels, a year-on-year increase of 24.79%, with an export value of US$6.929 billion, up by 10.4%. Imports of wood-based panels totaled 2.1291 million cubic meters (converted), a year-on-year increase of 36.02% for the fifth consecutive year, and the import value reached US$926 million, up by 56.68% year-on-year. Overall, both the import and export volumes of wood-based panels increased, but the average import and export prices both declined.

In 2024, China’s plywood exports reached 13.1887 million cubic meters, up by 22.82% year-on-year, with an export value of US$5.269 billion, up by 9.4%. Imports of plywood amounted to 793,000 cubic meters, up by 172.41% year-on-year, with an import value of US$222 million, up by 7.25%. Over 90% of plywood imports were from Russia. The top five export destinations for China’s plywood remained relatively stable, with the Philippines, the United Kingdom, Taiwan (China), the UAE, and Saudi Arabia being the top five. Japan and Nigeria, which were in the top five in 2023, dropped to seventh and ninth place respectively, with Taiwan (China) and Saudi Arabia taking their places.

In 2024, China exported approximately 3.8312 million cubic meters (converted) of fiberboard products, up by 30.27% year-on-year, with an export value of US$1.36 billion, up by 14.19%. Imports of fiberboard products reached 74,400 cubic meters (converted), up by 8.82% year-on-year, while the import value decreased by 4.56% to US$46.67 million. The top five export destinations for fiberboard products were Vietnam, Saudi Arabia, Mexico, Nigeria, and the United States. Notably, Vietnam’s growth rate was rapid, rising from fourth place last year to first place, with Saudi Arabia moving from third to second place.

In 2024, particleboard remained the only product where China’s import volume exceeded its export volume. A total of 1.2617 million cubic meters (converted) of particleboard products were imported, up by 5.02% year-on-year, with an import value of US$657 million, up by 48.86%. The top five countries for particleboard imports were Thailand, Brazil, Poland, Romania, and Germany. China exported 840,000 cubic meters (converted) of particleboard products, up by 34.61% year-on-year, with an export value of US$300 million, up by 10.7%. The top five export destinations were Taiwan (China), Mongolia, Nigeria, Chile, and Vietnam. Compared to 2023, Saudi Arabia and the UAE dropped out of the top five, while Chile and Vietnam entered the top five.

Looking ahead to 2025, the global economy faces multiple challenges and is showing a clear trend of slowing down. Geopolitical conflicts are intensifying, and trade protectionism is on the rise, increasing the uncertainty of China’s wood-based panel import and export trade. However, with the growing economic and cultural influence of China, there are still many opportunities for business growth in overseas markets.