Saw timber is typically sawn into 1" thick boards. The saw cuts a kerf between boards 1/4" thick that winds up as sawdust. Veneer is not cut from the log but sliced with a knife (like lunch meat) into 1/32" leaves or sheets. That produces 32 veneer surfaces for every 1 that is gotten from a board and with no wood wasted as sawdust another 8 sheets where the sawblade would have gone. That's 40 surfaces of wood veneer for every 1 of solid wood.