Forestry Statistics 2011 - Sources

Sources: Finance & prices

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Timber prices

The Coniferous Standing Sales Price Index measures the average price received per cubic metre of standing sales timber from Forestry Commission sales.  The index is expressed in real terms (2006 prices), and is adjusted for timber size mix using the Fisher method with 5 yearly chain-linking.  The index is constructed using data obtained from administrative records held by the Forestry Commission.

The Softwood Sawlog Price Index measures the average price received per cubic metre of sawlogs from Forestry Commission sales.  The index is constructed using data obtained from administrative records held by the Forestry Commission. 

The GDP market prices deflator (published quarterly by the Office for National Statistics) is used to convert the figures to real prices (September 2006 base).

The Coniferous Standing Sales Price Index and the Softwood Sawlog Price Index are published twice yearly (in May and November) in the First Release 'Timber Price Indices', covering the year to 31 March and the year to 30 September for standing sales and the six month periods to 31 March and to 30 September for logs.

The methodology used to calculate the Coniferous Standing Sales Price Index was reviewed in 2008, with a new method introduced from the November 2008 'Timber Price Indices' publication.  Further details on this change are available in the paper Methodology for the Coniferous Standing Sales Index

Longer time series data, showing the underlying figures used in constructing the timber price indices, are available from the Timber Price Indices web page.

For further information, see the quality report on Timber Price Indices.

Financial returns

Estimates of financial returns from commercial Sitka spruce plantations are compiled and published by Investment Property Databank Limited (IPD).  The returns include changes in the value of forestry estates, as well as timber price changes.

Gross Value Added

Statistics on gross value added (GVA) are obtained from the Annual Business Survey, formerly the Annual Business Inquiry, (Office for National Statistics), an annual survey of UK businesses.  The Annual Business Survey uses the UK Standard Industrial Classification (SIC) to classify businesses to industries according to their main activity.  For further information on the SIC codes used, see the previous page (Sources: Employment and businesses).

Government expenditure

Information about government expenditure on forestry is obtained from administrative records held by the Forestry Commission.  More detailed financial data for the Forestry Commission are published annually in the Annual Report & Accounts produced by National Offices.

Data on grant expenditure are obtained from administrative records for woodland grant schemes across GB.

Revisions

Price indices in nominal terms are not normally revised, but price indices in real terms are subject to revision when the GDP deflator is revised by the Office for National Statistics.

Data on financial returns from forestry are not normally revised.

Data on Gross Value Added (GVA) are subject to revision whenever Annual Business Survey data are revised by the Office for National Statistics.

Data on Government expenditure are not normally revised, but may be subject to revision if revisions are made to the Forestry Commission's financial accounts.  Figures for earlier years, shown in tables 8.4 and 8.5 have been revised from Forestry Statistics 2010 to include expenditure on restocking and forest roads in Scotland, that was incorrectly excluded from the figures previously published.

Links to Forestry Statistics 2011

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