The forestry sector is a major single export revenue source and through export duty contributes 60-70% of the total export revenue of the national economy. In 2016 and 2017, around 65% of the country’s export earnings came from forestry, mainly through sale of round logs, sawn timber and veneer which accounts for 20% of the state revenue (Central Bank of Solomon Islands, 2017).
In 2017 export destinations for round logs were: China (87%), India (5%), Vietnam (2%), Taiwan and Korea (1%). Sawn timber was exported in that year mostly to New Zealand (43%) and Australia (33%), whilst veneer was exported mostly to Taiwan and South Korea(Ministry of Forestry and Research Annual Report, 2016-2019).
Solomon Islands timbers are popular on the New Zealand and Australian markets. This is expected to remain so as long as perceptions surrounding issues sustainability and legality are unambiguous.