Australia is importing more and more wood even in the absence of a building boom. Major wood products have increased by 10.8%, reaching $1.941 billion in 2025-26.
Australia needs to curb the importation of wood products, especially engineered wood and builder’s joinery, that accounted for $676.9 million of total imports. Laminated veneer lumber (LVL) reached 245,065 cubic meters in 2025/26, a 160% increase compared to 2022/23. In the same period, prices have dropped significantly, signaling that overseas manufacturers are focused on having a stronger foothold in the Australian market.
Approvals for four- to eight-storey buildings rose by 70.5%, townhouse approvals rose by 20.5%, and house approvals rose by 1.9% in 2025. The prevailing demand for these buildings creates a huge demand for wood products that can be engineered, standardized and manufactured offsite.
Manufacturing wood products locally will create value within the Australian economy. As it stands currently, importing engineered timber products creates value outside of Australia. It's time for the sector to up its game to make more engineered wood products.
