Business | Markets
UAE imports of US hardwood products up
US hardwood exports to the Middle East and North Africa region grew by 32.3 per cent to top $52.2 million during the first 10 months of 2007, and AHEC is confident of a similar growth in 2008.
- Staff Report
- Published: 01:24 March 7, 2008
Dubai: UAE imports of US hardwood products are projected to grow to $25 million in 2008, according to a recent study by the American Hardwood Export Council (AHEC).
The organisation said this growth will be mainly driven by lumber imports, expected to account for 60 per cent ($15 million) of the entire US hardwood shipments to the country.
According to previously published reports by United States Census Bureau, US hardwood exports to the Middle East and North Africa region grew by 32.3 per cent to top $52.2 million during the first 10 months of 2007, and AHEC is confident of a similar growth in 2008.
Big increases
A breakdown of the exports revealed a big increase across all product lines, including the shipment of 5,101 cubic metres of hardwood logs, a 185 per cent rise leading to total exports of $3.9 million; and the delivery of 13,274 cu metres of hardwood lumber, reflecting a 69 per cent jump to $10.6 million.
"The enormous demand for US hardwood products in the UAE, as evident in the ever-growing import figures such as that of lumber, which has increased by 54.2 per cent to reach $8.4 million according to the latest statistics, is a clear indication of the outstanding opportunity for our products in the regional market," said David Venables, AHEC European director.
The enormous demand for US hardwood products in the UAE... is a clear indication of the outstanding opportunity for our products in the regional market."
David Venables, European director, AHEC
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