ECOWAS: Wood Fuel Market 2024

Wood Fuel Market Size in ECOWAS

After two years of growth, the ECOWAS wood fuel market decreased by X% to $X in 2022. In general, consumption posted a moderate expansion. Over the period under review, the market attained the maximum level at $X in 2021, and then fell modestly in the following year.

Wood Fuel Production in ECOWAS

In value terms, wood fuel production declined modestly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2018 with an increase of X% against the previous year. As a result, production reached the peak level of $X. From 2019 to 2022, production growth remained at a somewhat lower figure.

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Wood Fuel Exports

Exports in ECOWAS

After two years of decline, overseas shipments of wood fuel increased by X% to X cubic meters in 2022. In general, exports, however, continue to indicate a deep reduction. The pace of growth appeared the most rapid in 2014 with an increase of X% against the previous year. Over the period under review, the exports reached the peak figure at X cubic meters in 2016; however, from 2017 to 2022, the exports failed to regain momentum.

In value terms, wood fuel exports reached $X in 2022. Over the period under review, exports, however, recorded a abrupt slump. The most prominent rate of growth was recorded in 2014 with an increase of X%. As a result, the exports reached the peak of $X. From 2015 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

In 2022, Senegal (X cubic meters) represented the major exporter of wood fuel, creating X% of total exports. Cote d'Ivoire (X cubic meters) took a X% share (based on physical terms) of total exports, which put it in second place, followed by Nigeria (X%). The following exporters - Ghana (X cubic meters) and Benin (X cubic meters) - together made up X% of total exports.

Exports from Senegal decreased at an average annual rate of X% from 2012 to 2022. At the same time, Nigeria (X%) and Benin (X%) displayed positive paces of growth. Moreover, Nigeria emerged as the fastest-growing exporter exported in ECOWAS, with a CAGR of X% from 2012-2022. By contrast, Cote d'Ivoire (X%) and Ghana (X%) illustrated a downward trend over the same period. Nigeria (X p.p.), Cote d'Ivoire (X p.p.), Senegal (X p.p.) and Benin (X p.p.) significantly strengthened its position in terms of the total exports, while Ghana saw its share reduced by X% from 2012 to 2022, respectively.

In value terms, Senegal ($X) remains the largest wood fuel supplier in ECOWAS, comprising X% of total exports. The second position in the ranking was taken by Nigeria ($X), with a X% share of total exports. It was followed by Cote d'Ivoire, with an X% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Senegal stood at X%. In the other countries, the average annual rates were as follows: Nigeria (X% per year) and Cote d'Ivoire (X% per year).

Export Prices by Country

The export price in ECOWAS stood at $X per cubic meter in 2022, falling by X% against the previous year. Over the period under review, the export price showed a mild curtailment. The most prominent rate of growth was recorded in 2017 when the export price increased by X% against the previous year. Over the period under review, the export prices attained the peak figure at $X per cubic meter in 2013; however, from 2014 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 Benin ($X per cubic meter), while Cote d'Ivoire ($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 Benin (X%), while the other leaders experienced more modest paces of growth.

Wood Fuel Imports

Imports in ECOWAS

In 2022, after two years of decline, there was significant growth in supplies from abroad of wood fuel, when their volume increased by X% to X cubic meters. Over the period under review, imports, however, recorded a deep setback. The growth pace was the most rapid in 2019 when imports increased by X%. Over the period under review, imports hit record highs at X cubic meters in 2015; however, from 2016 to 2022, imports failed to regain momentum.

In value terms, wood fuel imports rose sharply to $X in 2022. Overall, imports, however, showed a deep setback. The pace of growth appeared the most rapid in 2019 with an increase of X%. Over the period under review, imports hit record highs at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

Gambia prevails in imports structure, finishing at X cubic meters, which was approx. X% of total imports in 2022. It was distantly followed by Ghana (X cubic meters), achieving an X% share of total imports.

Imports into Gambia decreased at an average annual rate of X% from 2012 to 2022. At the same time, Ghana (X%) displayed positive paces of growth. Moreover, Ghana emerged as the fastest-growing importer imported in ECOWAS, with a CAGR of X% from 2012-2022. From 2012 to 2022, the share of Ghana increased by X percentage points.

In value terms, Gambia ($X) constitutes the largest market for imported wood fuel in ECOWAS, comprising X% of total imports. The second position in the ranking was taken by Ghana ($X), with a X% share of total imports.

From 2012 to 2022, the average annual growth rate of value in Gambia amounted to X%.

Import Prices by Country

The import price in ECOWAS stood at $X per cubic meter in 2022, with a decrease of X% against the previous year. In general, the import price saw a perceptible downturn. The pace of growth was the most pronounced in 2018 when the import price increased by X% against the previous year. As a result, import price attained the peak level of $X per cubic meter. From 2019 to 2022, the import prices remained at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Gambia ($X per cubic meter), while Ghana stood at $X per cubic meter.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Gambia (X%).

Source: IndexBox Platform

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