S2Although imports of most hardwood products have varied since 1970 with no absolute trend, imports of hardwood plywood have decreased while imports of wood furniture have increased dramatically. The decrease in plywood imports stems from the substitution of sheetrock for plywood in mobile home construction, and the substitution of domestically produced composite products for imported hardwood in the production of prefinished paneling. Increased imports of wood furniture, primarily from Taiwan, resulted from the lower cost work force augmented by the rigid exchange rate between U.S. and Taiwanese dollars. Imports of hardwood lumber, logs, and veneer have fluctuated in both volume and country of origin. These fluctuations are related to the relative strength of the domestic furniture industry and policy developments in exporting countries. S3

S2Between 1970 and 1986, hardwood log exports increased by 102 percent, hardwood lumber exports by 329 percent, hardwood veneer exports by 442 percent, and hardwood plywood exports by 61 1 percent. Much of this increase has been for white and red oak products in the European and Asian markets. The factors influencing these increases include increased cost of tropical and European hardwood products, rapid growth in European and Asian economies, and an emerging furniture industry in Taiwan. Given the ample supplies of temperate hardwood timber in the United States relative to the rest of the world, continued demand for U.S. hardwood products seems likely. However, the increase in this demand will be contingent on the value of the dollar against European and Asian currencies, growth in foreign economies, furniture production technology, and foreign consumer acceptance of substitute materials.S3.

By the end of World War II, the United States had become well integrated into the world markets for forest products. No longer can domestic prices of forest products be viewed as being wholly determined by domestic demand and supply, nor even by North American supply and demand, but must be viewed in a worldwide context. Originally published in 1980, this work provides a comprehensive overview of the nature of global forestry, particularly as it pertains to international trade flows of forest products, and analyses the role of the United States in a global context. This is a valuable resource for any student or researcher interested in environmental studies, global trade relations, and foreign market development.

This report presents information on trends in demand for and prices of forest products in the United States. Although national trends are dealt with for the most part, some material is given for regions and States. The 1968, 1969, and 1970 statistics in this report are based on information available in early 1971.