Fordaq business survey reveals divergent trends in the global wood industry

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Fordaq released the results of its business sentiment survey carried out from 15th Sept 2023 till 5th of October 2023 among its members worldwide.

On the first question “did your revenues grow in the first half of 2023 compared to the same period of 2022”, 68% of companies answered no. In most of Europe, Russia, China, South-East Asia, Brazil and North America a majority of companies reported a decline in their revenues in the 1st half of 2023. On the other hand a majority of companies in Spain, Ukraine, Australia, India, Turkey, Saudi Arabia, Central Asia, Africa and South America (with the exception of Brazil) reported a growth in their revenues.

On the second question “Would you say that the economic environment is improving for your business” 66% of the companies answered no. Again sentiment in most of Europe, Russia, China, Brazil and North America was negative. This group was joined in H2 by Spain, Ukraine and Saudi Arabia/UAE were business sentiment deteriorated. A majority of companies in Australia, India, Pakistan, Turkey, Central Asia, Vietnam Africa and South America (with the exception of Brazil) reported an improvement in business sentiment in H2 2023.  The answers to this question are broadly in line with feedback we receive from companies using Fordaq and from business indicators. The difficulties in North America, China and Europe are well known but there are bright spots in other regions. Turkey for example is benefiting from cheap Russian supply but also from strength in its traditional export markets in Central Asia, Northern Africa and the Middle East. The Indian economy remains strong and importers are broadly positive. Vietnam is seeing an improvement as export markets are reordering on the back of restocking.  

On the third question “Do you expect to have revenue growth in 2024” 64% of companies answered yes. The countries were a majority of companies answered no to this question were: Australia, Israel, Romania, Portugal, France, Belgium, the Netherlands, Slovakia, Germany and Switzerland.

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