The Global Forest Trade Model (GFTM) in the bioeconomy modelling framework

The Global Forest Trade Model (GFTM) is a partial equilibrium model of the global forest sector, with a European focus. GFTM shares the classical economic-mathematical formulation used by similar models, such as (most notably) the Global Forest Products Model and the Global Trade Model. GFTM is a stand-alone model, but designed to be fully integrated into a modelling framework for the Bioeconomy module of FISE. In particular, the GFTM will work in close cooperation with a forest resource assessment model, the European Forestry Dynamics Model (EFDM), both receiving inputs from and proving outputs to it. GFTM provides projections of consumption, production, and international trade of wood-based products (sawlogs, pulpwood, sawnwood, wood-based panels, pulp, paper, and wood pellets) for 48 countries and global sub-regions.