The United Nations Economic Commission for Europe (UNECE) and the Food and Agricultural Organization (FAO) recently released the UNECE/FAO Forest Products Annual Market Review, 2007-2008. Its 12 chapters cover all forest products market sectors as well as interlinked policy developments in the UNECE region of Europe, North America and the CIS. Among the study's main findings:

• In 2007, United States housing construction continued its sharp decline, having severe impacts on the entire UNECE region’s forest products markets, as well as world markets.

• Green building systems are a driver of wood products markets, but also a constraint when they discriminate against some sources of wood.

• UNECE region consumption of wood and paper products fell in 2007 for the first time in six years due to the downturn in North American forest products markets, despite a rise in consumption in European and CIS markets.

• Due to the downturn in North American markets, some European market sectors exceeded their North American counterparts for the first time in 2007, with production of sawn softwood and consumption of panels and paper and paperboard greater than that of North America.

In addition to the market and policy analysis, considerable statistical information may be found in the electronic annexes of statistical tables available on the Review’s website. In line with the joint UNECE Timber Committee and FAO European Forestry Commission Market Discussions to be held on 21-22 October 2008 during the European Forest Week, in Rome, the Review’s theme is “Green building’s impact on the forest sector in the UNECE region.”