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January 7, 2019

Austrian sawmill industry hits record in 2018; expected to lose momentum in 2019

Austrian sawmill industry hits record in 2018; expected to lose momentum in 2019

Wood processing in Austria has benefitted from the vibrant construction economy at home and abroad for more than 3 years. In 2017, industry sales increased on average by 4.4 per cent to EUR 8.7 billion, predominantly driven by booming residential sector. 

"In 2018, the demand for timber and wood products received a further boost due to the sharp increase in domestic commercial construction and additionally recorded even stronger export growth than in the previous year. The nominal sales growth of 7.2 per cent during the first three quarters is not expected to cool down significantly until the end of the year and is expected to remain in the region of 5 per cent," emphasized UniCredit Bank Austria economist Gunter Wolf.

Wood processing passed its growth peak in the middle of the year. However, a sales increase vis-a-vis the previous year is still possible, as indicated by the further rise in producer prices of almost 1 per cent over recent months the highest since 2012 and, most of all, the yet again optimistic production and price expectations by the wood processing companies for the coming months.

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