Ὧ䈊㖞Ხ⋈䴆偹ᶢⲛ挅Ḩ妵

'>K>'[E_kXX>,/E_/E/f/f/{GTI-PRODUCERSREPORT

About GGSC

The International Tropical Timber Organization, ITTO for short, is an

Global Green Supply Chains Initiative (GGSC) is part of the Legal andsustainable

Sustainable Supply Chains (LSSC) Programme, which was approved atmanagement and conservation of tropical forests and the expansion

the 53rd session of the International Tropical Timber Council for being

and diversification of international trade in tropical timber from

included into the Biennial Work Programme (BWP) of Internationalsustainably managed and legally harvested forests. It located in

Tropical Timber Organization (ITTO). Launched in 2018 by leading

Yokohama, Japan. At present, there are 76 ITTO members countries.

Chinese enterprises in forest products industry, GGSC became an

ITTO’s membership represents about 90% of the global tropical timberinternational initiative in 2019. Since then, GGSC has been acting as aThe pilot countries for the GTI-Producers include Indonesia, Malaysia,

trade and more than 80% of the world’s tropical forests.

global platform for serving the sustainable development of the forest

Thailand, Gabon, Republic of the Congo, Ghana, Brazil, and Mexico. Inproducts industry.

2022, the total production quantity of logs and sawnwood in the eightorganization

promoting

theGGSC-No. 07/2024

Tracking and monitoring the timber market
trend of the ITTO Producers.

About ITTO
intergovernmental

MONTHLYὯ䈊㖞Ხ⋈䴆偹ᶢⲛ挅Ḩ妵

'>K>'[E_kXX>,/E_/E/f/f/{

countries mentioned above was 289 million cubic meters, accounting for

63.7% of the 37 ITTO producers’ total quantity.

Introduction to the GTI-Producers
GTI-Producers is a specialized prosperity index for ITTO producers,
reflecting the development trend of timber harvesting and primaryprocessing in producers represented by the pilot countries.

Declaration
GTI-Producers Report is compiled based on the data provided by the timber enterprises in timber producing countries. The data can not be used in investment
decision-making, but can help to understand the timber industry trend.

1. Calculation Method

2. Interpretation

The GTI-Producers was compiled using a weighted composite index method. That is,

The value of the GTI-Producers is between 0-100%, and 50% is the critical value oftaking all timber producing countries of GTI pilot countries as a whole, each country’s

the index.

The rights to interpret data and intellectual property in the reports are owned by ITTO and GGSC Secretariat jointly. ITTO and GGSC Secretariat hereby grant you a limited,revocable, nonsublicensable license to access and display on your individual device the GTI report (excluding any software code) solely for your personal, non-commercialuse. Without the permission from ITTO and GGSC Secretariat, you shall not copy, download, stream, capture, reproduce, duplicate, archive, upload, modify, translate,publish, broadcast, transmit, retransmit, distribute, perform, display, sell, or otherwise use any GTI-Producers Report.

weight is determined based on the proportion of logs and swan production quantity.
GTI-Producers is calculated based on the weight.

GTI-Producers reading above 50 percent indicates that the industry prosperity isgenerally expanding; below 50 percent indicates that it is generally declining.

Data basis: The data is from ITTO database, and the logs and sawnwood production
quantity is the data over the 5 years (2018-2022). GGSC evaluates the weights
annually to determine whether to adjust them.

Contact Us

Formula:
GTI-Producers = 52%×GTI-Brazil + 28%×GTI-Indonesia + 7%×GTI-Thailand + 6%×Ms. Sydney (Xuting) Gao

Ms. Zuo Ping

Director for Public Relations, GGSC Secretariat

Technical Assistant of Publicity Department, GGSC Secretariat

gaoxuting@itto-ggsc.org

zuoping@itto-ggsc.org

GTI-Malaysia + 4%×GTI-Mexico + 1%×GTI-Gabon + 1%×GTI-ROC + 1%×GTI-Ghana

3. Index RepresentativenessThe pilot countries of the GTI-Producers include Indonesia, Malaysia, Thailand, Gabon,
Republic of the Congo, Ghana, Brazil, Mexico. In 2022, the total production of logs andPlease refer to the GTI Monthly Report so as to find the calculation method of GTI

sawnwood in the eight countries mentioned above was 289 million cubic meters,

index for each producing country.

accounting for 63.7% of the 37 ITTO producers’ total quantity.

GGSC-No. 07/2024

GGSC-No. 07/2024

GTI-Producers Report

GTI-Producers Report

GTI-Producers Report for July 2024

Overview of GTI Indexes for Pilot Countries (%)
2024.52024.62024.7MoM

Performance

GTI-Producers

39.2

48.0

41.2

-6.8↓

Contract

GTI-Indonesia Index

42.1

51.5

46.4

-5.1↓

Contract

GTI-Malaysia Index

30.1

33.3

25.7

-7.6↓

Contract

GTI-Thailand Index

43.1

59.5

48.4

-11.1↓

Contract

GTI-Gabon Index

37.2

41.2

46.4

5.2↑

Contract

GTI-ROC Index

40.7

43.2

48.1

4.9↑

Contract

GTI-Ghana Index——46.8—Contract

GTI-Brazil Index

37.9

46.5

39.2

-7.3↓

Contract

GTI-Mexico Index

42.5

47.2

37.0

-10.2↓

Contract

GTI-Producers in July 2024 (%)

41.2

48.446.4

46.4

48.1

46.8
39.2

40

37.0

25.7

In July 2024, the GTI-Producers registered 41.2% and had stayed below thecritical value (50%) for three consecutive months, indicating a continued
downturn for the overall prosperity of the timber harvesting and primaryprocessing industries in the pilot producing countries.

GTI-Mexico Index

GTI-Brazil Index

GTI-Ghana Index

GTI-ROC Index

GTI-Gabon Index

GTI-Thailand Index

GTI-Malaysia Index

GTI-Indonesia Index

GTI-Producers

20

the critical value. On the supply side, the timber sector in Gabon had seen some
improvements, with both timber harvesting and production volumes increasing
compared to the previous month; in ROC, the volume of harvesting had slightly
decreased, while production remained relatively stable; however in Ghana, withfrequent forest fires that led to low production of raw materials for the timber
sector, the production activities was hindered by problems such as shortage ofraw materials and significant increase in the material prices. On the demand side,
the ROC's new orders remained relatively stable in volume, while both Gabon andGhana saw a decrease in domestic and overseas orders.

In Asia, the GTI indexes for Thailand, Indonesia, and Malaysia registered 48.4%,46.4%, and 25.7%, respectively, all in the contraction range below the criticalvalue. Compared to the previous month, Indonesia's timber harvesting continued
to grow in volume, Thailand's harvesting volume remained relatively stable, while
Malaysia's timber harvesting had been decreasing for several months; looking atproduction and processing, the production volume had decreased in all threecountries; in terms of demand, Indonesia's volume of orders was largely stable,
Thai enterprises had further increased their orders on hand, while Malaysia's
domestic and foreign demand remained sluggish, and GTI-Malaysia sample
enterprises suggested appropriately slowing down production and hoped thegovernment could provide support to promote the consumption of wood products.
Besides, GTI-Indonesia sample enterprises proposed efforts to encourage andpromote the marketing of plywood products and encourage the provision ofincentives for SFM-certified or legal wood products from various certification
schemes in the global and domestic markets.

In Latin America, the GTI indexes for Brazil and Mexico registered 39.2% and37.0%, respectively, both in the contraction range below the critical value.
Affected by limited market demand, Brazil's timber harvesting and production
had both declined in volume, and its number of orders had also decreased
following an increase last month. Additionally, challenges such as insufficient
port berths and worker strikes had severely restricted the export efficiency. In
Mexico, the overall timber harvesting and market sales were in a state ofcontraction. Meanwhile, the imported wood products and the alternative products
such as iron, aluminum, and PVC had hindered the development of its timber
sector, so the enterprises hoped the government could enhance import controls
and promote the development of local businesses.

ITTO Producers
Africa (14)Asia & Pacific (10)Latin America (13)• Angola• Gabon• Cambodia• Myanmar• Brazil• Mexico• Benin• Ghana• Fiji• Papua New Guinea• Colombia• Panama• Cameroon• Liberia• India• Philippines• Costa Rica

• Peru• Central African Republic• Madagascar• Indonesia• Thailand• Ecuador• Suriname• Congo• Mali• Malaysia• Viet Nam• Guatemala• Trinidad and Tobago• Côte d'Ivoire• Mozambique• Guyana• Democratic Republicof the Congo• Togo• Honduras• Venezuela(Bolivarian Republic of)

In Africa, the GTI indexes for the Republic of the Congo (ROC), Ghana, and Gabon
were at 48.1%, 46.8%, and 46.4%, respectively, all in the contraction range below

0102

GGSC-No. 07/2024

GGSC-No. 07/2024

GTI-Producers Report

GTI-Producers Report

GTI-Producers Report for July 2024Overview of GTI Indexes for Pilot Countries (%)
2024.52024.62024.7

MoM

Performance

GTI-Producers

39.2

48.0

41.2

-6.8↓

Contract

GTI-Indonesia Index

42.1

51.5

46.4

-5.1↓

Contract

GTI-Malaysia Index

30.1

33.3

25.7

-7.6↓

Contract

GTI-Thailand Index

43.1

59.5

48.4

-11.1↓

Contract

GTI-Gabon Index

37.2

41.2

46.4

5.2↑

Contract

GTI-ROC Index

40.7

43.2

48.1

4.9↑

Contract

GTI-Ghana Index

——

46.8

—

Contract

GTI-Brazil Index

37.9

46.5

39.2

-7.3↓

Contract

GTI-Mexico Index

42.5

47.2

37.0-10.2↓

Contract

GTI-Producers in July 2024 (%)

41.2

48.4

46.4

46.4

48.1

46.8
39.2

40

37.0

25.7

In July 2024, the GTI-Producers registered 41.2% and had stayed below thecritical value (50%) for three consecutive months, indicating a continued
downturn for the overall prosperity of the timber harvesting and primaryprocessing industries in the pilot producing countries.

GTI-Mexico Index

GTI-Brazil Index

GTI-Ghana Index

GTI-ROC Index

GTI-Gabon Index

GTI-Thailand Index

GTI-Malaysia Index

GTI-Indonesia Index

GTI-Producers

20

the critical value. On the supply side, the timber sector in Gabon had seen some
improvements, with both timber harvesting and production volumes increasing
compared to the previous month; in ROC, the volume of harvesting had slightly
decreased, while production remained relatively stable; however in Ghana, withfrequent forest fires that led to low production of raw materials for the timber
sector, the production activities was hindered by problems such as shortage ofraw materials and significant increase in the material prices. On the demand side,
the ROC's new orders remained relatively stable in volume, while both Gabon andGhana saw a decrease in domestic and overseas orders.

In Asia, the GTI indexes for Thailand, Indonesia, and Malaysia registered 48.4%,46.4%, and 25.7%, respectively, all in the contraction range below the criticalvalue. Compared to the previous month, Indonesia's timber harvesting continued
to grow in volume, Thailand's harvesting volume remained relatively stable, while
Malaysia's timber harvesting had been decreasing for several months; looking atproduction and processing, the production volume had decreased in all three
countries; in terms of demand, Indonesia's volume of orders was largely stable,
Thai enterprises had further increased their orders on hand, while Malaysia's
domestic and foreign demand remained sluggish, and GTI-Malaysia sample
enterprises suggested appropriately slowing down production and hoped thegovernment could provide support to promote the consumption of wood products.
Besides, GTI-Indonesia sample enterprises proposed efforts to encourage andpromote the marketing of plywood products and encourage the provision ofincentives for SFM-certified or legal wood products from various certification
schemes in the global and domestic markets.

In Latin America, the GTI indexes for Brazil and Mexico registered 39.2% and37.0%, respectively, both in the contraction range below the critical value.
Affected by limited market demand, Brazil's timber harvesting and production
had both declined in volume, and its number of orders had also decreased
following an increase last month. Additionally, challenges such as insufficient
port berths and worker strikes had severely restricted the export efficiency. InMexico, the overall timber harvesting and market sales were in a state ofcontraction. Meanwhile, the imported wood products and the alternative products
such as iron, aluminum, and PVC had hindered the development of its timber
sector, so the enterprises hoped the government could enhance import controls
and promote the development of local businesses.

ITTO Producers
Africa (14)Asia & Pacific (10)Latin America (13)• Angola• Gabon• Cambodia• Myanmar• Brazil• Mexico• Benin• Ghana• Fiji• Papua New Guinea• Colombia• Panama• Cameroon• Liberia• India• Philippines• Costa Rica

• Peru• Central African Republic• Madagascar• Indonesia• Thailand• Ecuador• Suriname• Congo• Mali• Malaysia• Viet Nam• Guatemala• Trinidad and Tobago• Côte d'Ivoire• Mozambique• Guyana• Democratic Republicof the Congo• Togo• Honduras• Venezuela(Bolivarian Republic of)

In Africa, the GTI indexes for the Republic of the Congo (ROC), Ghana, and Gabon
were at 48.1%, 46.8%, and 46.4%, respectively, all in the contraction range below

0102

Ὧ䈊㖞Ხ⋈䴆偹ᶢⲛ挅Ḩ妵

'>K>'[E_kXX>,/E_/E/f/f/{GTI-PRODUCERSREPORT

About GGSC

The International Tropical Timber Organization, ITTO for short, is an

Global Green Supply Chains Initiative (GGSC) is part of the Legal andsustainable

Sustainable Supply Chains (LSSC) Programme, which was approved atmanagement and conservation of tropical forests and the expansion

the 53rd session of the International Tropical Timber Council for beingand diversification of international trade in tropical timber from

included into the Biennial Work Programme (BWP) of Internationalsustainably managed and legally harvested forests. It located in

Tropical Timber Organization (ITTO). Launched in 2018 by leading

Yokohama, Japan. At present, there are 76 ITTO members countries.

Chinese enterprises in forest products industry, GGSC became an

ITTO’s membership represents about 90% of the global tropical timberinternational initiative in 2019. Since then, GGSC has been acting as aThe pilot countries for the GTI-Producers include Indonesia, Malaysia,trade and more than 80% of the world’s tropical forests.

global platform for serving the sustainable development of the forest

Thailand, Gabon, Republic of the Congo, Ghana, Brazil, and Mexico. Inproducts industry.

2022, the total production quantity of logs and sawnwood in the eightorganization

promoting

theGGSC-No. 07/2024

Tracking and monitoring the timber market
trend of the ITTO Producers.

About ITTO
intergovernmental

MONTHLYὯ䈊㖞Ხ⋈䴆偹ᶢⲛ挅Ḩ妵

'>K>'[E_kXX>,/E_/E/f/f/{

countries mentioned above was 289 million cubic meters, accounting for

63.7% of the 37 ITTO producers’ total quantity.

Introduction to the GTI-Producers
GTI-Producers is a specialized prosperity index for ITTO producers,
reflecting the development trend of timber harvesting and primaryprocessing in producers represented by the pilot countries.

Declaration
GTI-Producers Report is compiled based on the data provided by the timber enterprises in timber producing countries. The data can not be used in investment
decision-making, but can help to understand the timber industry trend.

1. Calculation Method

2. Interpretation

The GTI-Producers was compiled using a weighted composite index method. That is,

The value of the GTI-Producers is between 0-100%, and 50% is the critical value oftaking all timber producing countries of GTI pilot countries as a whole, each country’s

the index.

The rights to interpret data and intellectual property in the reports are owned by ITTO and GGSC Secretariat jointly. ITTO and GGSC Secretariat hereby grant you a limited,revocable, nonsublicensable license to access and display on your individual device the GTI report (excluding any software code) solely for your personal, non-commercialuse. Without the permission from ITTO and GGSC Secretariat, you shall not copy, download, stream, capture, reproduce, duplicate, archive, upload, modify, translate,publish, broadcast, transmit, retransmit, distribute, perform, display, sell, or otherwise use any GTI-Producers Report.

weight is determined based on the proportion of logs and swan production quantity.
GTI-Producers is calculated based on the weight.

GTI-Producers reading above 50 percent indicates that the industry prosperity isgenerally expanding; below 50 percent indicates that it is generally declining.

Data basis: The data is from ITTO database, and the logs and sawnwood production
quantity is the data over the 5 years (2018-2022). GGSC evaluates the weights
annually to determine whether to adjust them.

Contact Us

Formula:
GTI-Producers = 52%×GTI-Brazil + 28%×GTI-Indonesia + 7%×GTI-Thailand + 6%×Ms. Sydney (Xuting) Gao

Ms. Zuo Ping

Director for Public Relations, GGSC Secretariat

Technical Assistant of Publicity Department, GGSC Secretariat

gaoxuting@itto-ggsc.org

zuoping@itto-ggsc.org

GTI-Malaysia + 4%×GTI-Mexico + 1%×GTI-Gabon + 1%×GTI-ROC + 1%×GTI-Ghana

3. Index RepresentativenessThe pilot countries of the GTI-Producers include Indonesia, Malaysia, Thailand, Gabon,
Republic of the Congo, Ghana, Brazil, Mexico. In 2022, the total production of logs andPlease refer to the GTI Monthly Report so as to find the calculation method of GTI

sawnwood in the eight countries mentioned above was 289 million cubic meters,

index for each producing country.

accounting for 63.7% of the 37 ITTO producers’ total quantity.