Western Africa: Market for Saw Logs And Veneer Logs 2024

Market Size for Saw Logs And Veneer Logs in Western Africa

The West African market for saw logs and veneer logs reached $X in 2023, remaining stable against the previous year. Overall, consumption saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. Over the period under review, the market reached the peak level at $X in 2012; however, from 2013 to 2023, consumption remained at a lower figure.

Production of Saw Logs And Veneer Logs in Western Africa

In value terms, saw logs and veneer logs production amounted to $X in 2023 estimated in export price. Over the period under review, production saw a deep downturn. The pace of growth was the most pronounced in 2021 when the production volume increased by X% against the previous year. Over the period under review, production reached the peak level at $X in 2012; however, from 2013 to 2023, production failed to regain momentum.

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Exports of Saw Logs And Veneer Logs

Exports in Western Africa

In 2023, the amount of saw logs and veneer logs exported in Western Africa was estimated at X cubic meters, with an increase of X% on the year before. Over the period under review, exports, however, continue to indicate a abrupt downturn. The pace of growth appeared the most rapid in 2014 when exports increased by X% against the previous year. As a result, the exports reached the peak of X cubic meters. From 2015 to 2023, the growth of the exports remained at a somewhat lower figure.

In value terms, saw logs and veneer logs exports amounted to $X in 2023. In general, exports, however, continue to indicate a perceptible contraction. The most prominent rate of growth was recorded in 2014 when exports increased by X%. The level of export peaked at $X in 2017; however, from 2018 to 2023, the exports failed to regain momentum.

Exports by Country

Sierra Leone (X cubic meters) and Ghana (X cubic meters) were the largest exporters of saw logs and veneer logs in 2023, amounting to near X% and X% of total exports, respectively. Mali (X cubic meters) took a X% share (based on physical terms) of total exports, which put it in second place, followed by Liberia (X%) and Gambia (X%). Guinea-Bissau (X cubic meters) and Togo (X cubic meters) followed a long way behind the leaders.

From 2012 to 2023, the biggest increases were recorded for Mali (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Sierra Leone ($X) remains the largest saw logs and veneer logs supplier in Western Africa, comprising X% of total exports. The second position in the ranking was held by Ghana ($X), with a X% share of total exports. It was followed by Mali, with a X% share.

From 2012 to 2023, the average annual growth rate of value in Sierra Leone stood at X%. In the other countries, the average annual rates were as follows: Ghana (X% per year) and Mali (X% per year).

Export Prices by Country

The export price in Western Africa stood at $X per cubic meter in 2023, growing by X% against the previous year. Over the last eleven years, it increased at an average annual rate of X%. The pace of growth was the most pronounced in 2014 when the export price increased by X%. Over the period under review, the export prices attained the peak figure in 2023 and is expected to retain growth in years to come.

There were significant differences in the average prices amongst the major exporting countries. In 2023, amid the top suppliers, the country with the highest price was Guinea-Bissau ($X per cubic meter), while Togo ($X per cubic meter) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Guinea-Bissau (X%), while the other leaders experienced more modest paces of growth.

Imports of Saw Logs And Veneer Logs

Imports in Western Africa

In 2023, the amount of saw logs and veneer logs imported in Western Africa dropped markedly to X cubic meters, reducing by X% compared with the previous year. Overall, imports showed a perceptible curtailment. The growth pace was the most rapid in 2022 with an increase of X%. The volume of import peaked at X cubic meters in 2014; however, from 2015 to 2023, imports stood at a somewhat lower figure.

In value terms, saw logs and veneer logs imports reduced rapidly to $X in 2023. In general, imports showed a noticeable decline. The most prominent rate of growth was recorded in 2018 when imports increased by X%. Over the period under review, imports reached the maximum at $X in 2019; however, from 2020 to 2023, imports remained at a lower figure.

Imports by Country

Mauritania was the key importing country with an import of about X cubic meters, which finished at X% of total imports. Togo (X cubic meters) ranks second in terms of the total imports with a X% share, followed by Senegal (X%), Nigeria (X%) and Ghana (X%). Saint Helena, Ascension and Tristan da Cunha (X cubic meters) held a relatively small share of total imports.

From 2012 to 2023, average annual rates of growth with regard to saw logs and veneer logs imports into Mauritania stood at X%. At the same time, Nigeria (X%) displayed positive paces of growth. Moreover, Nigeria emerged as the fastest-growing importer imported in Western Africa, with a CAGR of X% from 2012-2023. Togo and Senegal experienced a relatively flat trend pattern. By contrast, Saint Helena, Ascension and Tristan da Cunha (X%) and Ghana (X%) illustrated a downward trend over the same period. While the share of Togo (X p.p.), Nigeria (X p.p.), Mauritania (X p.p.) and Senegal (X p.p.) increased significantly in terms of the total imports from 2012-2023, the share of Saint Helena, Ascension and Tristan da Cunha (X p.p.) and Ghana (X p.p.) displayed negative dynamics.

In value terms, the largest saw logs and veneer logs importing markets in Western Africa were Mauritania ($X), Togo ($X) and Senegal ($X), with a combined X% share of total imports. Nigeria, Ghana and Saint Helena, Ascension and Tristan da Cunha lagged somewhat behind, together comprising a further X%.

Among the main importing countries, Nigeria, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2023, the import price in Western Africa amounted to $X per cubic meter, increasing by X% against the previous year. Import price indicated a slight increase from 2012 to 2023: its price increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, saw logs and veneer logs import price decreased by X% against 2021 indices. The pace of growth appeared the most rapid in 2018 when the import price increased by X% against the previous year. The level of import peaked at $X per cubic meter in 2021; however, from 2022 to 2023, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Nigeria ($X per cubic meter), while Saint Helena, Ascension and Tristan da Cunha ($X per cubic meter) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Nigeria (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform