Timber can mitigate climate change because it can store carbon for decades. However, the value of timber carbon stocks has been neglected for a long time, which has led to overemphasize the production yields of timber. This approach is detrimental to increasing forest carbon sinks. Therefore, quantifying the economic value of the timber carbon stocks and incorporating it into timber prices have great practical significance for sustainable forest development and climate change mitigation. Moreover, the leakage of the global timber carbon stock value (TCSV) is prominent, and the flow patterns of the global trade-embodied TCSV should be determined to precisely evaluate the forest assets of individual economies. Based on the Exiobase database and a multi-regional input-output model, this study calculated the TCSV of 43 economies and 5 regions from 1995-2011 considering the cross-border transfer of TCSV. Furthermore, the effects of incorporating TCSV into timber prices on various product prices were explored. The results show that the top 10 surplus economies regarding the accumulated TCSV between 1995 and 2011 are the major contributors of production-based timber carbon stock value, and the top 10 deficit economies are dominated by developed economies with large net import-embodied TCSV. The ripple effect of the rising price of timber caused by TCSV as an environmental cost mainly influenced harvested wood products and energy-fuel products. The research findings provide a scientific assessment of the TCSV and contribute to advancing the timber pricing mechanism to increase forest carbon sinks.