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Biobío's Forestry Exports in Decline: Drop by 10.2% in the First Quarter of 2024

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• The region faces a notable decrease in demand from its main international markets.

Forestry exports from the Biobío Region have experienced a 10.2% decline during the first quarter of 2024, reaching a total of US$1,310.1 million, of which US$940.9 million correspond to the forestry sector.

This downturn has been primarily reflected in the production of pulp, paper, and cardboard, which leads export activity with a 57.2% share. The main destinations for these exports have been China, the United States, Mexico, South Korea, and the Netherlands, which together account for 73.5% of total exports, according to data provided by the National Statistics Institute (INE).

The pulp, paper, and cardboard industry has been the most affected, with a decrease of US$58.8 million in exports, representing a 9.8% drop compared to the same period the previous year. Overall, forestry activity has exported US$49.3 million less, marking a negative variation of 10.9%.

The five main destination countries have reduced their imports by US$104.5 million, equivalent to a 13.1% decline. China, the largest importer of forestry products from the region, has decreased its purchases by 6.0%, followed by the United States with a 17.9% drop. Mexico, South Korea, and the Netherlands have also recorded significant declines, with the exception of the Netherlands, which increased its imports by 45.4%.

The most exported forestry goods include pulp, sawn wood, and plywood, which together total US$761.8 million and account for 81.0% of the region's forestry exports. Pulp remains the highest-volume export commodity, though it has suffered a 9.5% decrease compared to the same quarter the previous year.

This decline in forestry exports from the Biobío Region poses significant challenges for the local economy, which heavily depends on this sector. Authorities and industry companies must seek strategies to reverse this trend and adapt to changes in international demand.