Timber bends under sanctions // Lumber exports down 21% in Q1

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In Russia, the decline in timber exports continues, which decreased by 21% in the first quarter. The indicator is affected by the high base effect of the first quarter of 2022, when exports were not yet affected by sanctions. Nevertheless, the rate of decline is gradually slowing down due to the reorientation of exports to Central Asia and China, whose share in Russian foreign deliveries is already almost 64%. The industry is counting on a recovery in exports this year on the back of improved logistics to Asia, with a weaker ruble improving margins for exporters.

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