An Empirical Analysis of Timber Trade in India

Abstract

Forests are renewable resources that contribute significantly to economic growth. The economic contribution by forest is through the valuable commodities including wood, paper and non-timber forest products. One among this is timber, it has been the primary material for house construction and furnishings of all kinds over the years. Timber plays a vital role in international trade in India. This study was focused on finding growth pattern in export and import of timber using Compound Annual Growth Rate (CAGR). Over the period of 2005-2019, the production of timber has been increased at the rate of 0.07%. The import performance was dominant over the export due to over requirements of raw materials. Although export showed positive growth rate at 0.15%, import of timber shot up at 4.09% from 2005-2019. Therefore, it is necessary to introduce adequate due diligence system to meet domestic demand of timber production in India.