UAE to import US hardwood products worth $25m
Dubai, March 6, 2008
The UAE’s import of US hardwood products is set to touch $25 million this year, according to a recent study.
The study by the American Hardwood Export Council (AHEC) 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.
The announcement followed the participation by AHEC at the Dubai Woodshow 2008 held in February.
According to previously published reports by the US Census Bureau, US hardwood exports to the Middle East and North Africa (MENA) region grew by 32.3 per cent to top $52.2 million during the first 10 months of 2007.
AHEC said in a statement that it is confident of a similar level of growth in 2008.
A breakdown of the exports revealed a big increase across all product lines including the shipment of 5,101 cu. metres of hardwood logs, a staggering 185 per cent rise leading to total exports of $3.9 million; the delivery of 13,274 cu metres of hardwood lumber, reflecting a 69 per cent jump to $10.6 million; and the shipment of $2.2 million worth of regional hardwood veneer imports, an increase of 24.2 per cent.
Of the total value of regional imports within this period, the UAE has shelled out $13.2 million towards hardwood products to address the growing demand of its booming real estate sector, a 59 per cent increase from 2006, the council said.
“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 AHEC European director David Venables.
“As US hardwood products become one of the most popular materials, which is being used across the UAE’s highly ambitious real estate projects, we are taking necessary measures to ensure that we have enough supply to address the swelling demand in the region. The excellent reception for US hardwood at the recently concluded Dubai Woodshow has been enough motivation for us to continually offer high quality products and technologies to Middle Eastern importers and manufacturers,” he added. – TradeArabia News Service