Western Africa: Market for Coniferous Wood In The Rough 2023

Market Size for Coniferous Wood In The Rough in Western Africa

The West African market for coniferous wood in the rough totaled $X in 2022, approximately mirroring the previous year. In general, 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 somewhat lower figure.

Production of Coniferous Wood In The Rough in Western Africa

In value terms, coniferous wood in the rough production stood at $X in 2022 estimated in export price. The total output value increased at an average annual rate of +1.6% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2015 with an increase of 31% against the previous year. Over the period under review, coniferous wood in rough production reached the peak level at $X in 2020; afterwards, it flattened through to 2022.

Exports of Coniferous Wood In The Rough

Exports in Western Africa

In 2022, after four years of growth, there was decline in shipments abroad of coniferous wood in the rough, when their volume decreased by -2.2% to X cubic meters. Over the period under review, exports, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 with an increase of 334%. As a result, the exports reached the peak of X cubic meters. From 2014 to 2022, the growth of the exports remained at a lower figure.

In value terms, coniferous wood in the rough exports stood at $X in 2022. Overall, exports recorded a abrupt curtailment. The most prominent rate of growth was recorded in 2013 when exports increased by 63%. As a result, the exports reached the peak of $X. From 2014 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

Togo (X cubic meters) and Benin (X cubic meters) represented roughly 53% of total exports in 2022. Ghana (X cubic meters) held a 16% share (based on physical terms) of total exports, which put it in second place, followed by Nigeria (7.6%), Guinea (7.5%), Liberia (6.9%) and Senegal (6.7%).

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by Benin (with a CAGR of +42.2%), while the other leaders experienced more modest paces of growth.

In value terms, the largest coniferous wood in the rough supplying countries in Western Africa were Benin ($X), Guinea ($X) and Togo ($X), together comprising 57% of total exports.

Benin, with a CAGR of +52.1%, saw the highest rates of growth with regard to the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in Western Africa stood at $X per cubic meter in 2022, rising by 5.2% against the previous year. Overall, the export price, however, saw a abrupt slump. The pace of growth was the most pronounced in 2015 an increase of 52% against the previous year. Over the period under review, the export prices reached the peak figure at $X per cubic meter in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

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 Guinea ($X per cubic meter), while Senegal ($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 (+7.0%), while the other leaders experienced more modest paces of growth.

Imports of Coniferous Wood In The Rough

Imports in Western Africa

Coniferous wood in the rough imports dropped modestly to X cubic meters in 2022, declining by -2.1% compared with 2021 figures. Over the period under review, imports continue to indicate a abrupt downturn. The growth pace was the most rapid in 2014 when imports increased by 30%. As a result, imports attained the peak of X cubic meters. From 2015 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, coniferous wood in the rough imports fell modestly to $X in 2022. Overall, imports continue to indicate a abrupt decrease. The most prominent rate of growth was recorded in 2021 with an increase of 7.8% against the previous year. Over the period under review, coniferous wood in rough imports attained the peak figure at $X in 2013; however, from 2014 to 2022, imports remained at a lower figure.

Imports by Country

Liberia (X cubic meters) and Saint Helena, Ascension and Tristan da Cunha (X cubic meters) dominates imports structure, together mixing up 90% of total imports. The following importers - Cote d'Ivoire (X cubic meters) and Nigeria (X cubic meters) - together made up 6.8% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Cote d'Ivoire (with a CAGR of +31.7%), while imports for the other leaders experienced mixed trends in the imports figures.

In value terms, Saint Helena, Ascension and Tristan da Cunha ($X), Liberia ($X) and Nigeria ($X) were the countries with the highest levels of imports in 2022, with a combined 73% share of total imports. These countries were followed by Cote d'Ivoire, which accounted for a further 0.4%.

Cote d'Ivoire, with a CAGR of +7.3%, recorded the highest rates of growth with regard to the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in Western Africa stood at $X per cubic meter in 2022, declining by -1.5% against the previous year. Over the period under review, the import price recorded a deep downturn. The pace of growth appeared the most rapid in 2016 an increase of 98%. Over the period under review, import prices hit record highs at $X per cubic meter in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Nigeria ($X per cubic meter), while Cote d'Ivoire ($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 Nigeria (+19.7%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Market Intelligence Platform

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