US Dollar Exchange Rates of
10th
September
2025
China Yuan 7.13
Report from China
Philippines, largest export destination for plywood
According to China Customs data the Philippines has
become the largest market for China’s plywood exports
and in the first half of 2025 exports rose 3% to 504,000
cubic metres. In the first half of 2025 China’s plywood
exports totalled 6.49 million cubic metres valued at
US$2.52 billion, up 2% and 3% respectively over the same
period of 2024.
The destinations for China’s plywood exports are
numerous and plywood exports to the top 10 destinations
accounted for nearly 50% of the national total in the first
half of 2025.
China’s plywood exports to the main destinations rose
year on year at a faster pace in the first half of 2025.
Plywood exports to Saudi Arabia, UAE, Nigeria, Australia
and Mexico rose 48%, 49%, 50%, 21% and 22%
respectively over the same period of 2024, which
contributed to the increase in the total volume of plywood
exports in the first half of 2025. In addition, China’s
plywood exports to Canada rose 6% in the first half of
2025.
In contrast, China’s plywood exports to UK, Viet Nam and
Japan fell 8%, 9% and 7% respectively in the first half of
2025.
China’s plywood exports to US dropped in the first half of
2025 and came to 110,783 cubic metres valued at US$65
million, down 26% in both volume and value over the
same period of 2024.
Decline in plywood imports
In the first half of 2025 China’s plywood imports fell 3%
to 190,000 cubic metres valued at US$105 million, down
3% over the same period of 2024. Russia was the largest
supplier of plywood imports but the volume of China’s
plywood imports from Russia dropped 5% to 164,000
cubic metres, accounting for 87% of the national total
plywood imports in the first half of 2025.
In addition, China’s plywood from Malaysia, Viet Nam
and Italy fell 20%, 32% and 28% respectively in the first
half of 2025. Customs data shows plywood imports from
Chile rose sharply in the first half of 2025. In contrast,
China’s plywood imports from Indonesia and Japan grew
27% and 44% largely respectively in the first half of 2025.
Rise in particleboard exports
In the first half of 2025 China’s particleboard exports rose
62% to 365,000 tonnes over the same period of 2024. For
all of the main destinations exports rose at faster rate year
on year than in the first half of 2024. China’s particleboard
exports to Viet Nam, Chile, Peru and Saudi Arabia rose
110%, 207%, 324% and 158% respectively and there was
a huge increase in exports to South Korea.
In contrast, in the first half of 2025 China’s particleboard
exports to Taiwan P.o.C, alone as the main importer
dropped 4% over the same period of 2024.
Decline in particleboard imports
In the first half of 2025 China’s particleboard imports
totalled 316,000 tonnes valued at US$144 million, down
13% and 3% respectively over the same period of 2024.
This decrease resulted from lower imports from Thailand,
however, imports from Brazil, as the first largest supplier,
rose 9% over the same period of 2024.
China’s particleboard imports from the other top suppliers;
Germany, Romania, Poland, Russia, Italy and Viet Nam
rose 9%, 17%, 7%, 14%, 53% and 2% respectively in the
first half of 2025.
In contrast, China’s particleboard imports from Belarus
and Malaysia dropped 10% and 8% to 14,000 tonnes and
12,000 tonnes respectively over the same period of 2024.
Fibreboard exports to Viet Nam
According to China Customs, in the first half of 2025
China’s fibreboard exports totalled 1,.718 million tonnes,
up 33% over the same period of 2024 resulting from the
large growth in the top 3 destination countries.
Viet Nam was the largest destination for China’s
fibreboard exports in the first half of 2025 and fibreboard
exports to Viet Nam surged 145% to 363,000 tonnes,
accounting for 21% of the national total in the first half of
2025.
China’s fibreboard exports to Saudi Arabia and Mexico, as
the second and third largest destination, grew 44% and 5%
to 221,000 tonnes and 136,000 tonnes respectively over
the same period of 2024.
In addition, China’s fibreboard exports to UAE, Canada,
Egypt, Uzbekistan and Jordan rose 38%, 20%, 106%, 41%
and 29% largely respectively in the first half of 2025.
In contrast, China’s fibreboard exports to Nigeria and
USA fell 20% and 14% respectively in the first half of
2025.
Rise in fibreboard imports
Although China's fibreboard imports are not large they
increased significantly in the first half of the year to
27,000 tonnes, up 10% over the same period of 2024.
China’s fibreboard imports from most suppliers rose year
on year at a faster pace in the first half of 2025.
Fibreboard imports from New Zealand, as the first largest
supplier, rose 83% to 12,000 tonnes in the first half of
2025. It is worth noting that China’s fibreboard imports
from Malaysia surged nearly 1,500% over the same period
of 2024. In addition, China’s fibreboard imports from
Switzerland and Poland grew 22% and 18% respectively
in the first half of 2025.
In contrast, China’s fibreboard imports from Thailand,
Germany, Belgium, Romania, Australia and Spain
dropped 12%, 19%, 48%, 46%, 31% and 28% over the
same period of 2024.
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