ECOWAS: Market for Coniferous Wood In The Rough 2023

Market Size for Coniferous Wood In The Rough in ECOWAS

The ECOWAS market for coniferous wood in the rough stood at $X in 2022, approximately equating the previous year. In general, consumption saw a modest expansion. As a result, consumption attained the peak level of $X. From 2016 to 2022, the growth of the market remained at a somewhat lower figure.

Production of Coniferous Wood In The Rough in ECOWAS

In value terms, coniferous wood in the rough production stood at $X in 2022 estimated in export price. The total output value increased at an average annual rate of +1.6% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2015 when the production volume increased by 31%. The level of production peaked at $X in 2020; afterwards, it flattened through to 2022.

Exports of Coniferous Wood In The Rough

Exports in ECOWAS

After four years of growth, overseas shipments of coniferous wood in the rough decreased by -2.2% to X cubic meters in 2022. In general, exports, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2013 with an increase of 334%. As a result, the exports attained the peak of X cubic meters. From 2014 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, coniferous wood in the rough exports rose to $X in 2022. Overall, exports continue to indicate a deep contraction. The pace of growth appeared the most rapid in 2013 when exports increased by 63% against the previous year. As a result, the exports attained the peak of $X. From 2014 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

Togo (X cubic meters) and Benin (X cubic meters) represented the main exporters of coniferous wood in the rough in 2022, reaching near 28% and 25% of total exports, respectively. It was distantly followed by Ghana (X cubic meters), Nigeria (X cubic meters), Guinea (X cubic meters), Liberia (X cubic meters) and Senegal (X cubic meters), together achieving a 45% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by Benin (with a CAGR of +42.2%), while the other leaders experienced more modest paces of growth.

In value terms, the largest coniferous wood in the rough supplying countries in ECOWAS were Benin ($X), Guinea ($X) and Togo ($X), together accounting for 57% of total exports.

Benin, with a CAGR of +52.1%, saw the highest rates of growth with regard to the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the export price in ECOWAS amounted to $X per cubic meter, growing by 5.2% against the previous year. Over the period under review, the export price, however, recorded a abrupt curtailment. The pace of growth was the most pronounced in 2015 when the export price increased by 52%. Over the period under review, the export prices reached the maximum at $X per cubic meter in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Guinea ($X per cubic meter), while Senegal ($X per cubic meter) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Benin (+7.0%), while the other leaders experienced more modest paces of growth.

Imports of Coniferous Wood In The Rough

Imports in ECOWAS

In 2022, imports of coniferous wood in the rough in ECOWAS declined modestly to X cubic meters, waning by -2.1% compared with 2021 figures. Over the period under review, imports showed a deep slump. The pace of growth appeared the most rapid in 2013 when imports increased by 36%. The volume of import peaked at X cubic meters in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

In value terms, coniferous wood in the rough imports contracted modestly to $X in 2022. In general, imports recorded a abrupt slump. The pace of growth appeared the most rapid in 2013 with an increase of 22% against the previous year. As a result, imports attained the peak of $X. From 2014 to 2022, the growth of imports remained at a lower figure.

Imports by Country

Liberia prevails in imports structure, recording X cubic meters, which was near 83% of total imports in 2022. It was distantly followed by Cote d'Ivoire (X cubic meters) and Nigeria (X cubic meters), together mixing up an 11% share of total imports. Ghana (X cubic meters) followed a long way behind the leaders.

Imports into Liberia decreased at an average annual rate of -4.7% from 2012 to 2022. At the same time, Cote d'Ivoire (+31.7%) displayed positive paces of growth. Moreover, Cote d'Ivoire emerged as the fastest-growing importer imported in ECOWAS, with a CAGR of +31.7% from 2012-2022. By contrast, Nigeria (-13.6%) and Ghana (-31.3%) illustrated a downward trend over the same period. Liberia (+45 p.p.) and Cote d'Ivoire (+5.9 p.p.) significantly strengthened its position in terms of the total imports, while Ghana saw its share reduced by -24.8% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest coniferous wood in the rough importing markets in ECOWAS were Liberia ($X), Nigeria ($X) and Ghana ($X), together accounting for 77% of total imports. Cote d'Ivoire lagged somewhat behind, comprising a further 0.7%.

Cote d'Ivoire, with a CAGR of +7.3%, recorded the highest rates of growth with regard to the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced mixed trends in the imports figures.

Import Prices by Country

The import price in ECOWAS stood at $X per cubic meter in 2022, remaining constant against the previous year. In general, the import price, however, saw a abrupt downturn. The pace of growth appeared the most rapid in 2016 an increase of 113%. As a result, import price attained the peak level of $X per cubic meter. From 2017 to 2022, the import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Ghana ($X per cubic meter), while Cote d'Ivoire ($X per cubic meter) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Nigeria (+19.7%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Market Intelligence Platform

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