NEWS

In the first six months of 2023, Russia's production of plywood declined by 16.4% to a total of 1.6 million cubic meters. In 2021, Russia produced a record 4.5 million cubic meters; that dropped to 3.2 million cubic meters in 2022 primarily due to the sanctions imposed after Russia's invasion of Ukraine.

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The volume of cabinet sales dropped by more than 13% through June. However, cabinet manufacturers reported an increase in revenue from cabinets of 4.4%. June revenue grew by 4.5% vs. May but is still down by 3% vs. last year.

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Kitchen Cabinet Manufacturers Association: June Trend of Business Report

The value of U.S. imports of multilayered wood flooring grew by 11% last year. In May 2023, the volume of those imports rose 6% from the January to April average, reversing the downward trend from earlier in the year. Year-to-date imports dropped by more than 38% in value, with declines across nearly all sources.

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MLWF imports May 2023 (PDF)

U.S. imports of hardwood plywood rose by 60% in volume in May from the January to April average, but remain down 60% in volume and 67% in value year-to-date through May, after growing by 12% in value last year to $2.1 billion. Among large sources, imports from Vietnam fell the most, down by 79% vs. the same period last year. However, monthly imports from Vietnam and Indonesia grew in April and May, indicating that the downward trend may be reversing.

The Real American Hardwood Coalition has launched the Build Your World™ advertising campaign in partnership with Magnolia Network. The campaign will promote Real American Hardwood® flooring, cabinetry, furniture, and millwork and is designed to run through January 29, 2024. The campaign will run on the Magnolia Network channel, as well as on Magnolia and Discovery+ digital streaming platforms.

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