Open AccessAn Empirical Analysis of Timber Trade in India
Author(s) -
R. Shobika,
S. Selvanayaki,
N. Deepa,
R.P. Vasanthi
Publication year - 2021
Publication title -
asian journal of agricultural extension, economics and sociology
Language(s) - English
Resource type - Journals
ISSN - 2320-7027
DOI - 10.9734/ajaees/2021/v39i1130712
Subject(s) - production (economics) , raw material , business , natural resource economics , agricultural economics , international trade , economics , ecology , macroeconomics , biology
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.