The Timber Trade Federation (TTF) is predicting a slowdown in the UK’s softwood imports for next year. The TTF’s Softwood Import Forecast shows growth is expected to fall to just 0.5% in 2017-2018.
In 2016-2017, softwood imports grew by 3.7%, from 6,219,000m3 to 6,451,000m3, and annual growth in the sector has remained at a similar level since 2012. The TTF said the expected contraction was caused by the depreciation in Sterling. It said timber imports were a good indicator of growth in the wider construction industry, since timber was a vital component of the majority of projects, particularly housebuilding, residential development and home refurbishment and improvement.