Igor Novoselov

According to Rosstat data, after a prolonged period of negative production dynamics observed from mid-2022 to July 2023, a positive trend in monthly sawn timber production volumes in Russia has emerged

Despite the significant narrowing of sales channels for Russian timber products over the past year, Russia remains part of the global wood product market, and, accordingly, is subject to trends in the global economy.

Financial indicators of timber companies in Russia reached their peaks in 2021, which was due to the recovery of consumer demand after the covid 2021, extraordinary prices for lumber and the growth of housing construction.

Starting from the second quarter of 2022, the financial indicators of timber companies have been steadily falling by 13-16% quarterly and falling back to the level of three years ago.

Russia is one of the world's three largest producers of softwood and hardwood lumber, behind China and the United States. The volume of sawn timber production in Russia in 2022 is expected to decrease.