Ghana: Roundwood Market 2024

Roundwood Market Size in Ghana

In 2022, the Ghanian roundwood market increased by X% to $X, rising for the second year in a row after five years of decline. Over the period under review, consumption continues to indicate a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2016 to 2022, the growth of the market remained at a lower figure.

Roundwood Production in Ghana

In value terms, roundwood production shrank to $X in 2022 estimated in export price. Over the period under review, production, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2015 when the production volume increased by X% against the previous year. As a result, production attained the peak level of $X. From 2016 to 2022, production growth failed to regain momentum.

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Roundwood Exports

Exports from Ghana

In 2022, shipments abroad of roundwood increased by X% to X cubic meters for the first time since 2019, thus ending a two-year declining trend. Over the period under review, exports, however, recorded a abrupt decrease. The most prominent rate of growth was recorded in 2015 with an increase of X%. Over the period under review, the exports reached the maximum at X cubic meters in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

In value terms, roundwood exports declined markedly to $X in 2022. In general, exports, however, saw a deep downturn. The most prominent rate of growth was recorded in 2014 when exports increased by 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

The UK (X cubic meters) was the main destination for roundwood exports from Ghana, accounting for a X% share of total exports. Moreover, roundwood exports to the UK exceeded the volume sent to the second major destination, Germany (X cubic meters), fivefold. The third position in this ranking was held by India (X cubic meters), with less than X% share.

From 2012 to 2022, the average annual growth rate of volume to the UK totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (X% per year) and India (X% per year).

In value terms, India ($X) remains the key foreign market for roundwood exports from Ghana, comprising X% of total exports. The second position in the ranking was held by China ($X), with a X% share of total exports. It was followed by the UK, with a X% share.

From 2012 to 2022, the average annual growth rate of value to India totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (X% per year) and the UK (X% per year).

Export Prices by Country

In 2022, the average roundwood export price amounted to $X per cubic meter, reducing by X% against the previous year. In general, the export price, however, showed prominent growth. The pace of growth appeared the most rapid in 2017 an increase of X% against the previous year. Over the period under review, the average export prices hit record highs at $X per cubic meter in 2014; however, from 2015 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was India ($X per cubic meter), while the average price for exports to Germany (less than $X per cubic meter) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to India (X%), while the prices for the other major destinations experienced mixed trend patterns.

Roundwood Imports

Imports into Ghana

In 2022, the amount of roundwood imported into Ghana soared to X cubic meters, increasing by X% on the previous year's figure. Over the period under review, imports, however, saw a deep slump. The most prominent rate of growth was recorded in 2018 with an increase of X%. As a result, imports reached the peak of X cubic meters. From 2019 to 2022, the growth of imports remained at a lower figure.

In value terms, roundwood imports expanded markedly to $X in 2022. Overall, imports showed a prominent expansion. The most prominent rate of growth was recorded in 2018 with an increase of X% against the previous year. As a result, imports reached the peak of $X. From 2019 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2022, the United States (X cubic meters) constituted the largest supplier of roundwood to Ghana, accounting for a X% share of total imports. Moreover, roundwood imports from the United States exceeded the figures recorded by the second-largest supplier, South Africa (X cubic meters), threefold. The third position in this ranking was held by Benin (X cubic meters), with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from the United States stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: South Africa (X% per year) and Benin (X% per year).

In value terms, the United States ($X) constituted the largest supplier of roundwood to Ghana, comprising X% of total imports. The second position in the ranking was held by South Africa ($X), with a X% share of total imports. It was followed by Benin, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value from the United States totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: South Africa (X% per year) and Benin (X% per year).

Import Prices by Country

In 2022, the average roundwood import price amounted to $X per cubic meter, falling by X% against the previous year. Over the period under review, the import price, however, continues to indicate a resilient increase. The most prominent rate of growth was recorded in 2021 when the average import price increased by X%. As a result, import price attained the peak level of $X per cubic meter, and then dropped dramatically in the following year.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Benin ($X per cubic meter), while the price for Cote d'Ivoire ($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 Burkina Faso (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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