ECOWAS: Industrial Roundwood Market 2024

Industrial Roundwood Market Size in ECOWAS

The ECOWAS industrial roundwood market declined to $X in 2022, which is down by X% against the previous year. Overall, consumption, however, continues to indicate a perceptible shrinkage. The level of consumption peaked at $X in 2016; however, from 2017 to 2022, consumption remained at a lower figure.

Industrial Roundwood Production in ECOWAS

In value terms, industrial roundwood production shrank modestly to $X in 2022 estimated in export price. In general, production recorded a noticeable slump. The growth pace was the most rapid in 2014 with an increase of X% against the previous year. Over the period under review, production attained the maximum level at $X in 2016; however, from 2017 to 2022, production failed to regain momentum.

Industrial Roundwood Exports

Exports in ECOWAS

In 2022, approx. X cubic meters of industrial roundwood were exported in ECOWAS; waning by X% against the previous year's figure. In general, exports saw a pronounced curtailment. The most prominent rate of growth was recorded in 2013 with an increase of X%. The volume of export peaked at X cubic meters in 2017; however, from 2018 to 2022, the exports remained at a lower figure.

In value terms, industrial roundwood exports declined dramatically to $X in 2022. Overall, exports saw a mild curtailment. The pace of growth was the most pronounced in 2014 when exports increased by X% against the previous year. Over the period under review, the exports hit record highs at $X in 2017; however, from 2018 to 2022, the exports failed to regain momentum.

Exports by Country

In 2022, Nigeria (X cubic meters), distantly followed by Sierra Leone (X cubic meters), Liberia (X cubic meters), Ghana (X cubic meters), Mali (X cubic meters) and Gambia (X cubic meters) represented the major exporters of industrial roundwood, together constituting X% of total exports.

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

In value terms, Sierra Leone ($X), Nigeria ($X) and Ghana ($X) were the countries with the highest levels of exports in 2022, together accounting for X% of total exports. Mali, Liberia and Gambia lagged somewhat behind, together accounting for a further X%.

Mali, with a CAGR of X%, saw the highest rates of growth with regard to the value of exports, in terms of 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, which is down by X% against the previous year. Over the last decade, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2016 an increase of X%. As a result, the export price reached the peak level of $X per cubic meter. From 2017 to 2022, the export prices remained at a somewhat 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 Sierra Leone ($X per cubic meter), while Liberia ($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 Sierra Leone (X%), while the other leaders experienced more modest paces of growth.

Industrial Roundwood Imports

Imports in ECOWAS

In 2022, the amount of industrial roundwood imported in ECOWAS dropped remarkably to X cubic meters, which is down by X% compared with 2021 figures. Overall, imports recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when imports increased by X%. As a result, imports reached the peak of X cubic meters. From 2019 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, industrial roundwood imports rose to $X in 2022. Over the period under review, imports, however, continue to indicate a strong expansion. The pace of growth appeared the most rapid in 2020 with an increase of X%. The level of import peaked in 2022 and is expected to retain growth in the immediate term.

Imports by Country

Nigeria (X cubic meters), Togo (X cubic meters) and Ghana (X cubic meters) represented roughly X% of total imports in 2022. It was distantly followed by Senegal (X cubic meters), making up an X% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Nigeria (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Nigeria ($X) constitutes the largest market for imported industrial roundwood in ECOWAS, comprising X% of total imports. The second position in the ranking was taken by Ghana ($X), with a X% share of total imports. It was followed by Senegal, with an X% share.

In Nigeria, industrial roundwood imports increased at an average annual rate of X% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Ghana (X% per year) and Senegal (X% per year).

Import Prices by Country

The import price in ECOWAS stood at $X per cubic meter in 2022, with an increase of X% against the previous year. Overall, the import price continues to indicate a buoyant increase. The most prominent rate of growth was recorded in 2019 an increase of X% against the previous year. Over the period under review, import prices attained the peak figure in 2022 and is likely to see steady growth in the immediate term.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Nigeria ($X per cubic meter), while Togo ($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 Ghana (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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