Aftermath of the Asian Economic Crisis : How Did U . S . Hardwood Lumber Exporters Fare ? by Matt Bumgardner

Slow or negative growth for many Asian countries in the late 1990’s affected U.S. exports of hardwood lumber to Asia. With many of these economies now on the mend, this study attempted to gain an initial understanding of how this crisis affected hardwood lumber exports to Asia and the extent to which export volumes have recovered. Trade statistics compiled by the U.S. Department of Commerce and other sources revealed the volume and value of hardwood lumber exports to Asia have nearly recovered to pre-crisis levels, but also that not all Asian countries/markets have reacted similarly. China/Hong Kong has become the largest market for hardwood lumber in Asia, while traditional major markets -Japan, South Korea, and Taiwan -have declined. These shifts seem to be having an effect on the species mix exported and export prices. U.S. exporters generally have fared well against international competition through this period, though they are reminded that there is not “one” Asia, and that many factors contribute to export behavior by customers in individual countries and markets.