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About the Timber Index

The Timber Index is an economic indicator measuring global trends in timber product prices. Using 2010 as the base year (100), it quantifies timber price movements thereafter and tracks price changes in various timber products including logs, sawn timber, and plywood. This indicator is continuously monitored by international commodity exchanges and economic statistical agencies and serves as an important indicator reflecting the health of the global timber market.

There are multiple reasons why the Timber Index is considered important. First, timber is a fundamental raw material for a wide range of industries including construction, furniture manufacturing, and the paper industry, and its price fluctuations directly affect construction costs and the manufacturing sector as a whole. Second, timber prices serve as an indicator of the economic conditions of forestry and forest product-exporting nations. Furthermore, timber is attracting attention as a sustainable natural resource, and price trends also reflect the impact of environmental policies and forest management. A strong correlation with the business cycle is a characteristic feature, with timber demand tending to increase and prices rising during economic expansion periods, while falling during recession periods.

As a general trend, the Timber Index fluctuates in line with construction activity and global economic growth. It declined significantly during the global financial crisis of the late 2000s but rose following subsequent economic recovery. In recent years, increased construction demand in emerging nations, robust demand from China, and supply chain disruptions have had major impacts on price fluctuations. Within the context of the transition to a carbon-neutral society, discussions about promoting timber utilization and sustainable forestry are becoming increasingly active, and the impacts on future timber supply-demand balance and prices warrant close attention.