The wood products and paper manufacturing sectors in Canada have reported a downturn in sales for the beginning of the year. According to data from Statistics Canada, the wood products industry recorded sales of approximately C$3.029 billion (US$2.238 billion) in January 2024, a decrease from the C$3.045 billion reported in the same period in 2023. Similarly, the paper manufacturing industry witnessed a decline in sales from around C$2.89 billion to approximately C$2.72 billion during the same timeframe.
Statistics Canada reveals that Canadian wood products manufacturers saw a decrease of around 0.53 percent in sales compared to the previous year. Meanwhile, paper products manufacturers experienced a more substantial decline of about 4.9 percent in sales during the same period, according to data released by the state-run institution.