GCC: Market for Coniferous Wood In The Rough 2023

Market Size for Coniferous Wood In The Rough in GCC

The GCC market for coniferous wood in the rough contracted to $X in 2022, with a decrease of -6.3% against the previous year. In general, consumption continues to indicate a abrupt decrease. Over the period under review, the market reached the peak level at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Production of Coniferous Wood In The Rough in GCC

In value terms, coniferous wood in the rough production reduced slightly to $X in 2022 estimated in export price. Over the period under review, production, however, posted a significant increase. The growth pace was the most rapid in 2018 with an increase of 41,319%. As a result, production attained the peak level of $X. From 2019 to 2022, production growth remained at a somewhat lower figure.

Exports of Coniferous Wood In The Rough

Exports in GCC

In 2022, coniferous wood in the rough exports in GCC surged to X cubic meters, picking up by 183% against the year before. In general, exports posted a resilient increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, coniferous wood in the rough exports soared to $X in 2022. Overall, exports, however, continue to indicate a deep reduction. The pace of growth appeared the most rapid in 2020 when exports increased by 47% against the previous year. Over the period under review, the coniferous wood in rough exports attained the maximum at $X in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

Exports by Country

The United Arab Emirates dominates exports structure, amounting to X cubic meters, which was approx. 89% of total exports in 2022. Oman (X cubic meters) held the second position in the ranking, followed by Kuwait (X cubic meters). All these countries together held near 11% share of total exports.

The United Arab Emirates was also the fastest-growing in terms of the coniferous wood in the rough exports, with a CAGR of +7.4% from 2012 to 2022. At the same time, Oman (+3.4%) displayed positive paces of growth. Kuwait experienced a relatively flat trend pattern. While the share of the United Arab Emirates (+10 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Oman (-1.7 p.p.) and Kuwait (-4.9 p.p.) displayed negative dynamics.

In value terms, the United Arab Emirates ($X), Oman ($X) and Kuwait ($X) constituted the countries with the highest levels of exports in 2022.

Oman, with a CAGR of +22.3%, recorded the highest growth rate of the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced a decline in the exports figures.

Export Prices by Country

The export price in GCC stood at $X per cubic meter in 2022, which is down by -50.7% against the previous year. In general, the export price recorded a precipitous contraction. The most prominent rate of growth was recorded in 2021 when the export price increased by 48%. The level of export peaked at $X per cubic meter in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Oman ($X per cubic meter), while the United Arab Emirates ($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 Oman (+18.2%), while the other leaders experienced a decline in the export price figures.

Imports of Coniferous Wood In The Rough

Imports in GCC

In 2022, purchases abroad of coniferous wood in the rough decreased by -4.5% to X cubic meters for the first time since 2018, thus ending a three-year rising trend. In general, imports saw a deep slump. The growth pace was the most rapid in 2021 when imports increased by 25% against the previous year. The volume of import peaked at X cubic meters in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

In value terms, coniferous wood in the rough imports fell to $X in 2022. Over the period under review, imports saw a precipitous slump. The pace of growth was the most pronounced in 2014 with an increase of 26% against the previous year. Over the period under review, coniferous wood in rough imports reached the peak figure at $X in 2015; however, from 2016 to 2022, imports failed to regain momentum.

Imports by Country

The countries with the highest levels of coniferous wood in the rough imports in 2022 were Bahrain (X cubic meters), together recording 100% of total import.

Bahrain was also the fastest-growing in terms of the coniferous wood in the rough imports, with a CAGR of +70.6% from 2012 to 2022. From 2012 to 2022, the share of Bahrain increased by +100 percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Bahrain ($X) constitutes the largest market for imported coniferous wood in the rough in GCC.

From 2012 to 2022, the average annual growth rate of value in Bahrain totaled +29.8%.

Import Prices by Country

The import price in GCC stood at $X per cubic meter in 2022, reducing by -3.6% against the previous year. Overall, the import price saw a abrupt curtailment. The pace of growth was the most pronounced in 2014 an increase of 32%. Over the period under review, import prices attained the peak figure at $X per cubic meter in 2015; however, from 2016 to 2022, import prices failed to regain momentum.

As there is only one major supplying country, the average price level is determined by prices for Bahrain.

From 2012 to 2022, the rate of growth in terms of prices for Bahrain amounted to -23.9% per year.

Source: IndexBox Market Intelligence Platform

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