Changes in the International Trade Balance of U.S. Hardwood products from 1990 to 2013

Abstract

We examine U.S. exports and imports of hardwood products from 1990 to 2013. These products include logs, lumber, veneer, chips, molding, cooperage, plywood, and flooring. The values of hardwood products exported and imported have fluctuated over the years but have generally increased. More substantial changes have occurred with the countries and regions receiving U.S. exports, as well as with those importing into the United States. The primary region receiving U.S. hardwood log and lumber in 1990 was Western Europe, but today, China is the most important market. East Asia has been the most important source region for U.S. hardwood plywood imports, but the specific sources have shifted from Indonesia and Taiwan in 1990 to China today. The overall balance of U.S. hardwood product trade has remained positive for most of the years examined, with the United States having a comparative advantage in exporting logs and lumber. In contrast, the United States has a comparative disadvantage in hardwood plywood exports.