US hardwood exports to ME may hit record.
Recent statistics from the US Department of Agriculture reveal that the value of American hardwood exports between January and September has grown to $75.621 million - marking a 53.9 per cent increase from the $49.135 million posted during the same period in 2009.
The figures also reveal that American hardwood lumber exports to Bahrain amounted to $200,000 in the first three quarters of this year, reaffirming the country's preference and growing demand for speciality American hardwoods.
Underlining the increase in exports of American hardwood logs, lumber, veneer and flooring across the Middle East region, are key figures that show an 118.5pc increase in exports of US hardwood flooring from January to September compared to the corresponding period last year.
During this period, there was also a 59.2 per cent increase in US hardwood lumber exports, a 55.5 per cent rise in hardwood veneer exports and a 42.8 per cent growth in log exports.
'During the first nine months of 2010 we witnessed strong growth in export activity across the Middle East and North Africa (Mena) region, which highlights the demand for quality American hardwood products in today's ongoing world class construction development projects,' said AHEC Africa, Middle East, India and Oceania director Roderick Wiles.
'Some market experts are pointing out that re-stocking or over-stocking are key reasons for the increase.
'However, the Mena construction industry, along with its complementing interiors segment, has also reported an increase in activity, both from stalled projects that have resumed construction and new projects.
'The US hardwood industry hopes to capitalise on this upturn,' he added.- TradeArabia News Service
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|Publication:||TradeArabia (Manama, Bahrain)|
|Date:||Dec 21, 2010|
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