The study, conducted by independent thinktank Chatham House, found that imports of illegally sourced wood were also down 30% from their peak in 2004.

As a result, up to 17m hectares of forest are estimated to have been protected from degradation and at least 1.2bn tonnes of CO2 emissions have been avoided.

According to the report, further reductions will require a "comprehensive overhaul of policy in producer countries" while consumer countries such as Japan and China must follow the example of the US and EU and ban the import and sale of illegally sourced wood.