Western Africa: Roundwood Market 2024

Roundwood Market Size in Western Africa

The West African roundwood market dropped slightly to $X in 2022, remaining stable against the previous year. Overall, consumption, however, continues to indicate a relatively flat trend pattern. Over the period under review, the market hit record highs at $X in 2016; however, from 2017 to 2022, consumption stood at a somewhat lower figure.

Roundwood Production in Western Africa

In value terms, roundwood production contracted slightly to $X in 2022 estimated in export price. In general, production, however, showed a slight curtailment. The pace of growth appeared the most rapid in 2016 with an increase of X% against the previous year. As a result, production attained the peak level of $X. From 2017 to 2022, production growth failed to regain momentum.

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Roundwood Exports

Exports in Western Africa

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. Overall, exports, however, showed a deep downturn. The pace of growth was the most pronounced in 2015 when exports increased by X% against the previous year. The volume of export peaked at X cubic meters in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

In value terms, roundwood exports dropped rapidly to $X in 2022. Over the period under review, exports, however, saw a mild reduction. The pace of growth appeared the most rapid in 2014 when exports increased by X%. The level of export peaked at $X in 2017; however, from 2018 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Cote d'Ivoire (X cubic meters) and Ghana (X cubic meters) represented roughly X% of total exports in 2022.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by Cote d'Ivoire (with a CAGR of X%).

In value terms, Ghana ($X) remains the largest roundwood supplier in Western Africa, comprising X% of total exports. The second position in the ranking was taken by Cote d'Ivoire ($X), with less than X% share of total exports.

From 2012 to 2022, the average annual growth rate of value in Ghana stood at X%.

Export Prices by Country

In 2022, the export price in Western Africa amounted to $X per cubic meter, with a decrease of X% against the previous year. Overall, the export price, however, continues to indicate a resilient increase. The most prominent rate of growth was recorded in 2020 when the export price increased by X% against the previous year. Over the period under review, the export prices attained the maximum 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 origin: amid the top suppliers, the country with the highest price was Ghana ($X per cubic meter), while Cote d'Ivoire amounted to less than $X per cubic meter.

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

Roundwood Imports

Imports in Western Africa

In 2022, supplies from abroad of roundwood increased by X% to X cubic meters for the first time since 2019, thus ending a two-year declining trend. In general, imports, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2019 when imports increased by X% against the previous year. As a result, imports attained the peak of X cubic meters. From 2020 to 2022, the growth of imports remained at a lower figure.

In value terms, roundwood imports surged to $X in 2022. Over the period under review, imports enjoyed a buoyant expansion. The growth pace was the most rapid in 2020 when imports increased by X%. Over the period under review, imports attained the maximum in 2022 and are likely to see gradual growth in the near future.

Imports by Country

Mauritania represented the key importing country with an import of around X cubic meters, which recorded X% of total imports. Nigeria (X cubic meters) ranks second in terms of the total imports with a X% share, followed by Benin (X%), Togo (X%), Ghana (X%) and Gambia (X%). Senegal (X cubic meters) took a little share of total imports.

Mauritania experienced a relatively flat trend pattern with regard to volume of imports of roundwood. At the same time, Benin (X%), Nigeria (X%), Senegal (X%) and Togo (X%) displayed positive paces of growth. Moreover, Benin emerged as the fastest-growing importer imported in Western Africa, with a CAGR of X% from 2012-2022. By contrast, Ghana (X%) and Gambia (X%) illustrated a downward trend over the same period. While the share of Nigeria (X p.p.), Benin (X p.p.), Senegal (X p.p.), Mauritania (X p.p.) and Togo (X p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Ghana (X p.p.) and Gambia (X p.p.) displayed negative dynamics.

In value terms, Nigeria ($X) constitutes the largest market for imported roundwood in Western Africa, comprising X% of total imports. The second position in the ranking was taken by Mauritania ($X), with a X% share of total imports. It was followed by Ghana, with a X% share.

In Nigeria, roundwood imports increased at an average annual rate of X% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Mauritania (X% per year) and Ghana (X% per year).

Import Prices by Country

The import price in Western Africa stood at $X per cubic meter in 2022, declining by X% against the previous year. In general, the import price, however, showed a strong expansion. The growth pace was the most rapid in 2020 when the import price increased by X%. Over the period under review, import prices reached the maximum at $X per cubic meter in 2021, and then fell in the following year.

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 ($X per cubic meter), while Benin ($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 Ghana (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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