The wood processing industry has increased its contribution to the gross value added by 1.7 times and makes about 8% of Ukraine's GDP production.
According to leading world experts Wood Resource Quarterly, Ukraine occupies the first place among European countries in terms of early maturity indicator (80-100 years), which measures how soon can forests be used economically after planting trees, as well as one of the leading places in the world. The wood processing industry is developed not only for domestic demand but also exports its products to 58 countries on five continents.
The Wood Industry Association includes 7 associations of forest-based sectors that unite enterprises of the timber and woodworking industries, furniture making, construction materials industry, and producers of nonwovens and industrial felt production. The cluster turnover was about 1,5 bln or 4% of GDP on the 2011 year results. Wood production in Ukraine is carried out by more than 1,000 enterprises that employ more than 400 thousand people, 1,5 thousand are occupied by women.
The largest importers of Ukrainian wood are CIS countries and Europe.
Since 2015, a moratorium has been in effect in Ukraine on the export of unprocessed wood abroad. Thus, we protect our forests from barbaric deforestation and the protection of precious tree species. Valuable trees in need of protection include acacia, mountain ash, Klokov's cherry, pear, walnut, chestnut, berry yew, sweet cherry, ash, and juniper.
Thus, a promising niche for investments appeared in Ukraine — woodworking. Manufacturing of luxury furniture, unique works of art, log houses, and just wood shavings as a building material. Recycled wood can be taken out of the country and earned on it.
