B.C.’s forest industry may be facing tough times, but moves to diversify into the China market are paying off, according to a national report released Wednesday.
“Exports to China have skyrocketed in recent years with considerable potential for more growth,” the Conference Board of Canada’s Spring 2011 Outlook concluded. “According to the B.C. Ministry of Forests, Lands and Natural Resource Operations, 4.6 million cubic metres of softwood lumber products were exported to China in 2010, a 76-per-cent increase from 2009.”
Regarding future potential, it said there is a huge supply gap between China’s forest resources and its industry demand, so Chinese lumber imports are expected to double over the next five years to 12 billion board feet.