ECOWAS: Market for Saw Logs And Veneer Logs (Coniferous) 2024

Market Size for Saw Logs And Veneer Logs (Coniferous) in ECOWAS

The ECOWAS market for saw logs and veneer logs (coniferous) rose markedly to $X in 2023, picking up by X% against the previous year. Overall, consumption showed a prominent increase. The level of consumption peaked at $X in 2019; however, from 2020 to 2023, consumption remained at a lower figure.

Production of Saw Logs And Veneer Logs (Coniferous) in ECOWAS

In value terms, production of saw logs and veneer logs (coniferous) expanded significantly to $X in 2023 estimated in export price. Over the period under review, production continues to indicate prominent growth. The most prominent rate of growth was recorded in 2017 with an increase of X%. The level of production peaked at $X in 2019; however, from 2020 to 2023, production failed to regain momentum.

Exports of Saw Logs And Veneer Logs (Coniferous)

Exports in ECOWAS

In 2023, approx. X cubic meters of saw logs and veneer logs (coniferous) were exported in ECOWAS; with a decrease of X% compared with the previous year's figure. Overall, exports, however, enjoyed a prominent increase. The pace of growth appeared the most rapid in 2017 when exports increased by X%. As a result, the exports attained the peak of X cubic meters. From 2018 to 2023, the growth of the exports of remained at a somewhat lower figure.

In value terms, exports of saw logs and veneer logs (coniferous) reduced notably to $X in 2023. In general, exports, however, enjoyed a strong expansion. The growth pace was the most rapid in 2017 when exports increased by X%. As a result, the exports reached the peak of $X. From 2018 to 2023, the growth of the exports of failed to regain momentum.

Exports by Country

Togo was the key exporting country with an export of around X cubic meters, which recorded X% of total exports. Ghana (X cubic meters) ranks second in terms of the total exports with a X% share, followed by Nigeria (X%) and Cote d'Ivoire (X%).

Togo was also the fastest-growing in terms of the saw logs and veneer logs (coniferous) exports, with a CAGR of X% from 2012 to 2023. At the same time, Nigeria (X%) and Ghana (X%) displayed positive paces of growth. By contrast, Cote d'Ivoire (X%) illustrated a downward trend over the same period. While the share of Togo (X p.p.) and Nigeria (X p.p.) increased significantly in terms of the total exports from 2012-2023, the share of Cote d'Ivoire (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Togo ($X) remains the largest saw logs and veneer logs (coniferous) supplier in ECOWAS, comprising X% of total exports. The second position in the ranking was held by Ghana ($X), with a X% share of total exports. It was followed by Nigeria, with an X% share.

From 2012 to 2023, the average annual rate of growth in terms of value in Togo stood at X%. The remaining exporting countries recorded the following average annual rates of exports growth: Ghana (X% per year) and Nigeria (X% per year).

Export Prices by Country

The export price in ECOWAS stood at $X per cubic meter in 2023, with an increase of X% against the previous year. Over the period under review, the export price, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 when the export price increased by X%. Over the period under review, the export prices attained the peak figure at $X per cubic meter in 2012; however, from 2013 to 2023, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2023, amid the top suppliers, 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 2023, the most notable rate of growth in terms of prices was attained by Ghana (X%), while the other leaders experienced mixed trends in the export price figures.

Imports of Saw Logs And Veneer Logs (Coniferous)

Imports in ECOWAS

In 2023, the amount of saw logs and veneer logs (coniferous) imported in ECOWAS dropped significantly to X cubic meters, declining by X% on the previous year. Overall, imports saw a noticeable reduction. The pace of growth was the most pronounced in 2018 when imports increased by X%. Over the period under review, imports of attained the maximum at X cubic meters in 2019; however, from 2020 to 2023, imports failed to regain momentum.

In value terms, imports of saw logs and veneer logs (coniferous) declined markedly to $X in 2023. Over the period under review, imports recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when imports increased by X%. The level of import peaked at $X in 2019; however, from 2020 to 2023, imports stood at a somewhat lower figure.

Imports by Country

Nigeria was the main importing country with an import of around X cubic meters, which reached X% of total imports. Ghana (X cubic meters) ranks second in terms of the total imports with a X% share, followed by Senegal (X%). The following importers - Gambia (X cubic meters) and Cabo Verde (X cubic meters) - each reached a X% share of total imports.

Imports into Nigeria increased at an average annual rate of X% from 2012 to 2023. At the same time, Gambia (X%) and Senegal (X%) displayed positive paces of growth. Moreover, Gambia emerged as the fastest-growing importer imported in ECOWAS, with a CAGR of X% from 2012-2023. Cabo Verde experienced a relatively flat trend pattern. By contrast, Ghana (X%) illustrated a downward trend over the same period. While the share of Nigeria (X p.p.), Senegal (X p.p.) and Gambia (X p.p.) increased significantly in terms of the total imports from 2012-2023, the share of Ghana (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Nigeria ($X) constitutes the largest market for imported saw logs and veneer logs (coniferous) in ECOWAS, comprising X% of total imports. The second position in the ranking was held by Senegal ($X), with a X% share of total imports. It was followed by Ghana, with a X% share.

In Nigeria, imports of saw logs and veneer logs (coniferous) increased at an average annual rate of X% over the period from 2012-2023. In the other countries, the average annual rates were as follows: Senegal (X% per year) and Ghana (X% per year).

Import Prices by Country

The import price in ECOWAS stood at $X per cubic meter in 2023, waning by X% against the previous year. Import price indicated temperate growth from 2012 to 2023: its price increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, import price for saw logs and veneer logs (coniferous) increased by X% against 2020 indices. The pace of growth appeared the most rapid in 2016 when the import price increased by X%. As a result, import price reached the peak level of $X per cubic meter. From 2017 to 2023, the import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2023, amid the top importers, the country with the highest price was Cabo Verde ($X per cubic meter), while Ghana ($X per cubic meter) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Gambia (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform