Total revenue in the logging industry declined by 4.9% from 2022 to $11.7 billion in 2023. The shares of total revenue were split equally between the contract logging Canadian industry and the logging (except contract) Canadian industry.
Revenue from logging activities—which excludes revenue from other sources, such as secondary business activities—fell by 4.4% from 2022 to $10.9 billion in 2023. Contributing to this decline in revenues was a 16.2% decrease in the average annual price for logs, pulpwood and other forestry products, as measured by the Raw Materials Price Index.
Chart 1 
Revenue from logging activities, 2012 to 2023
Expenses fall faster than revenue
Total expenses from logging activities declined by $624.3 million year over year to $11.1 billion in 2023. This represented a 5.3% drop in expenses, which more than offset the decrease in total revenue (-4.9%). Total expenses represented 95 cents for every dollar of total revenue.
The cost of materials and supplies for all logging activities decreased 1.1% to $5.5 billion in 2023. Materials and supplies accounted for 60.1% of total expenses for loggers (except contract), while they represented 39.0% for contract loggers. The total cost of energy, water utility and vehicle fuel edged down 1.0% (-$9.9 million).
Total salaries and wages for the logging industry decreased 2.9% to $1.7 billion in 2023. Loggers (except contract) operate on an own-account basis and hire subcontractors, resulting in some of the salary and wage expenses being classified under subcontract fees. Contract loggers’ share of total salaries and wages was 70.1%, compared with 29.9% for loggers (except contract). For every dollar of total expenses, contract loggers spent 22 cents on salaries and wages, while loggers (except contract) spent 9 cents.
Higher revenues in three of the top five logging provinces fail to offset the decline in British Columbia
In 2023, the top five logging provinces accounted for 96.4% of Canada’s revenue from logging activities. Despite three of the top five provinces recording increases in revenue from logging activities, the most notable change was in British Columbia (-$714.2 million to $4.7 billion). New Brunswick saw a decrease in revenue of $26.3 million to $682.1 million. On the other hand, revenue was up in Alberta (+$111.1 million to $1.3 billion), Quebec (+$96.2 million to $2.7 billion) and Ontario (+$39.1 million to $1.1 billion).