M. Shahbandeh
Research expert covering agriculture & FMCG
Forestry in Canada - statistics & facts
Canada has the third largest forest area in the world (approximately 350 million hectares), making it no surprise that the forestry industry is a key contributor to country's economy. While steady real GDP growth had been recorded between 2013 and 2017, a decreases of between about one and seven percent were recorded from 2018 to 2020. Canada's provincial and territorial governments are responsible for managing forest conservation, with strict laws in place to shape forest practices. These stringent laws are particularly important when it comes to halting logging practices and encouraging reforestation, as extensive deforestation was carried out by European settlers in Canada throughout the 18th and 19th centuries.
Wood manufacturing
The wood product manufacturing sector is the most lucrative of the forestry industries, with a nominal GDP of approximately 12.6 billion Canadian dollars in 2020. Western Forest Products, a lumber company, is one of the key players in the forestry industry. As the major company is based in British Columbia, the state employs by far the most people in the forestry and logging industry, followed by Quebec. Western Forest Products, Inc.'s revenue has been growing for the past three years and was around 1.4 billion Canadian dollars in the 2021 fiscal year.Trade
The United States is the main trading partner of Canada when it comes to forest resources, with Canadian exports worth around 25 billion Canadian dollars in 2020. Lumber, sawmill and millwork products are the most traded Canadian forest products, with exports worth over 22 billion Canadian dollars globally.
