Manufactured Wood Product Outperforms All Industries

Wood product manufacturing outperformed all wholesale industries in 2020 (up 13.8 per cent over 2019), led by sawmills and wood preservation (up $2.6 billion) along with veneer, plywood, and engineered wood product (up $1.5 billion) manufacturing, says Statistics Canada. Both wood industries accounted for 93 per cent of the wood product growth. However, while demand rose, production of total softwood and hardwood lumber declined by 3.4 per cent. Total manufacturing revenue declined 9.3 per cent to $678.4 billion. Transportation equipment recorded a 21.6 per cent of the decline. Total expenses declined by 10 per cent year-over-year and salaries and wages recorded a decline of 6.9 per cent.