May 19, 2005. /Lesprom Network/. Soaring woodchip exports have helped narrow Australia's timber product trade deficit in the December quarter. The Australian Bureau of Agricultural and Resource Economics today said export earnings by the forest and wood product sector improved 7% to $539 million for the quarter. Total woodchip production climbed to 1605 kilotonnes, up 27%. This was driven by a strong increase in woodchip exports, which hit a record $241 million.