Middle East: Market for Coniferous Wood In The Rough 2023

Market Size for Coniferous Wood In The Rough in the Middle East

In 2021, after four years of growth, there was decline in the Middle Eastern market for coniferous wood in the rough, when its value decreased by -2.8% to $X. The total consumption indicated a perceptible expansion from 2012 to 2021: its value increased at an average annual rate of +4.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +21.0% against 2015 indices. The level of consumption peaked at $X in 2020, and then fell in the following year.

Production of Coniferous Wood In The Rough in the Middle East

In value terms, coniferous wood in the rough production dropped slightly to $X in 2021 estimated in export price. Over the period under review, production, however, posted a resilient expansion. The most prominent rate of growth was recorded in 2015 when the production volume increased by 42%. Over the period under review, coniferous wood in rough production reached the maximum level at $X in 2020, and then dropped slightly in the following year.

Exports of Coniferous Wood In The Rough

Exports in the Middle East

In 2021, after three years of growth, there was significant decline in overseas shipments of coniferous wood in the rough, when their volume decreased by -24.9% to X cubic meters. Overall, exports, however, enjoyed buoyant growth. The most prominent rate of growth was recorded in 2016 when exports increased by 396% against the previous year. The volume of export peaked at X cubic meters in 2020, and then fell significantly in the following year.

In value terms, coniferous wood in the rough exports dropped modestly to $X in 2021. In general, exports showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2016 when exports increased by 286% against the previous year. As a result, the exports reached the peak of $X. From 2017 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

In 2021, Oman (X cubic meters) was the largest exporter of coniferous wood in the rough, achieving 81% of total exports. It was distantly followed by the United Arab Emirates (X cubic meters), constituting a 12% share of total exports. The following exporters - Saudi Arabia (X cubic meters) and Kuwait (X cubic meters) - each resulted at a 6.8% share of total exports.

Oman was also the fastest-growing in terms of the coniferous wood in the rough exports, with a CAGR of +55.9% from 2012 to 2021. At the same time, Saudi Arabia (+13.4%) displayed positive paces of growth. Kuwait experienced a relatively flat trend pattern. By contrast, the United Arab Emirates (-7.1%) illustrated a downward trend over the same period. Oman (+78 p.p.) significantly strengthened its position in terms of the total exports, while Kuwait and the United Arab Emirates saw its share reduced by -2.5% and -31.5% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Oman ($X) remains the largest coniferous wood in the rough supplier in the Middle East, comprising 88% of total exports. The second position in the ranking was held by Saudi Arabia ($X), with an 8.2% share of total exports. It was followed by the United Arab Emirates, with a 2.3% share.

From 2012 to 2021, the average annual rate of growth in terms of value in Oman totaled +68.4%. In the other countries, the average annual rates were as follows: Saudi Arabia (+11.6% per year) and the United Arab Emirates (-30.2% per year).

Export Prices by Country

In 2021, the export price in the Middle East amounted to $X per cubic meter, rising by 29% against the previous year. Overall, the export price, however, continues to indicate a deep reduction. The level of export peaked at $X per cubic meter in 2013; however, from 2014 to 2021, the export prices failed to regain momentum.

Prices varied noticeably country of origin: the country with the highest price was Saudi Arabia ($X per cubic meter), while the United Arab Emirates ($X per cubic meter) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Oman (+8.0%), while the other leaders experienced a decline in the export price figures.

Imports of Coniferous Wood In The Rough

Imports in the Middle East

For the ninth consecutive year, the Middle East recorded decline in overseas purchases of coniferous wood in the rough, which decreased by -8% to X cubic meters in 2021. In general, imports saw a abrupt slump. The smallest decline of -7.3% was in 2014. The volume of import peaked at X cubic meters in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

In value terms, coniferous wood in the rough imports fell to $X in 2021. Overall, imports showed a deep reduction. The smallest decline of -2.5% was in 2014. The level of import peaked at $X in 2012; however, from 2013 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, Turkey (X cubic meters) represented the major importer of coniferous wood in the rough, committing 68% of total imports. It was distantly followed by Bahrain (X cubic meters), committing a 28% share of total imports. Israel (X cubic meters) took a minor share of total imports.

From 2012 to 2021, average annual rates of growth with regard to coniferous wood in the rough imports into Turkey stood at -20.0%. At the same time, Bahrain (+81.9%) and Israel (+1.2%) displayed positive paces of growth. Moreover, Bahrain emerged as the fastest-growing importer imported in the Middle East, with a CAGR of +81.9% from 2012-2021. From 2012 to 2021, the share of Bahrain and Israel increased by +28 and +2.5 percentage points, respectively.

In value terms, Turkey ($X) constitutes the largest market for imported coniferous wood in the rough in the Middle East, comprising 79% of total imports. The second position in the ranking was held by Bahrain ($X), with a 6.6% share of total imports.

From 2012 to 2021, the average annual growth rate of value in Turkey amounted to -19.4%. In the other countries, the average annual rates were as follows: Bahrain (+34.9% per year) and Israel (+4.9% per year).

Import Prices by Country

In 2021, the import price in the Middle East amounted to $X per cubic meter, approximately mirroring the previous year. Overall, the import price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when the import price increased by 13% against the previous year. The level of import peaked at $X per cubic meter in 2014; however, from 2015 to 2021, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2021, the country with the highest price was Israel ($X per cubic meter), while Bahrain ($X per cubic meter) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Israel (+3.7%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Market Intelligence Platform

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