Rayonier - Best-in-Class, Pure-Play Timber REIT
Following SLA Expiration, Canadian Imports Have Surged
Major Sources of U.S. Lumber Supply
IU.S. Lumber Production
70
60
50
20
BBF
40
440
30
20
10
Imports from Canada
Imports from Offshore
% Share of Imports from Canada
40%
35%
30%
25%
20%
% Share of Imports from Canada
15%
10%
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
2016 2017 YTD*
Year-over-Year Change
U.S. Production
Canadian Imports
(4%)
(9%)
(17%)
(21%)
8%
7%
7%
5%
5%
0%
(3%)
(6%)
(17%)
(30%)
(29%)
9%
(2%)
8%
15%
11%
9%
13%
5%
Increased housing starts and corresponding increases in U.S. lumber consumption have
largely been offset by increased imports from Canada following the SLA expiration.
Rayonier
Source: Western Wood Products Association, Forest Economic Advisors.
Investor Relations | August 2017
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