The decision to enter the export market requires the producer to commit sufficient managerial, economic, and financial resources to the task. Tampa International Forest Products must weigh the advantages and disadvantages of exporting to determine if projected profits, possible losses, and inherent risks justify management's commitment to exporting.
In 2006 the United States exported $6.9 billion of solid wood products. In 2006, global imports of solid wood products imports were valued at $62.7 billion. The United States was the leading market, importing $24.2 billion of wood products, while the European Union (EU) imported $14.5 billion, and Japan imported $9.9 billion. Combined, these top three markets accounted for two-thirds of global wood product imports.
Global trade in wood products increased from $49.9 billion in 2001 to $69.9 billion in 2006. Because of a strong housing and remodeling market in the United States during this period, U.S. imports of wood products such as soft wood lumber, paneling, and builders' carpentry increased significantly. U.S. wood imports increased $14.8 billion in 2001 to $24.2 billion in 2006, accounting for 43% of total growth in global wood imports. Similarly, demand from the EU's housing and construction markets increased its consumption of imported products, particularly for hardwood lumber, plywood, and builders' carpentry. EU wood imports increased from $8.9 billion in 2001 to $13.9 billion in 2006, accounting for 20% of the total growth in global wood imports. Lackluster demand from Japan's relatively flat housing market translated to decreased demand for wood, with imports falling from $12.3 billion in 2001 to $11.5 billion in 2006.
Other important wood markets whose imports increased between 2001 and 200 ...