ECOWAS: Market for Saw Logs And Veneer Logs 2024

Market Size for Saw Logs And Veneer Logs in ECOWAS

The ECOWAS market for saw logs and veneer logs was estimated at $X in 2023, approximately reflecting the previous year. Overall, consumption saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 when the market value increased by X% against the previous year. The level of consumption peaked at $X in 2012; however, from 2013 to 2023, consumption stood at a somewhat lower figure.

Production of Saw Logs And Veneer Logs in ECOWAS

In value terms, saw logs and veneer logs production reached $X in 2023 estimated in export price. In general, production continues to indicate a abrupt setback. The most prominent rate of growth was recorded in 2021 when the production volume increased by X% against the previous year. The level of production peaked at $X in 2012; however, from 2013 to 2023, production remained at a lower figure.

Exports of Saw Logs And Veneer Logs

Exports in ECOWAS

In 2023, approx. X cubic meters of saw logs and veneer logs were exported in ECOWAS; with an increase of X% on 2022. Over the period under review, exports, however, saw a abrupt decline. The growth pace was the most rapid in 2014 when exports increased by X% against the previous year. As a result, the exports attained the peak of X cubic meters. From 2015 to 2023, the growth of the exports failed to regain momentum.

In value terms, saw logs and veneer logs exports expanded significantly to $X in 2023. Overall, exports, however, recorded a noticeable downturn. 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) represented the key exporters of saw logs and veneer logs in 2023, recording approx. X% and X% of total exports, respectively. Mali (X cubic meters) held the next position in the ranking, followed by Liberia (X cubic meters) and Gambia (X cubic meters). All these countries together held approx. X% share of total exports. Guinea-Bissau (X cubic meters) and Togo (X cubic meters) took a little share of total exports.

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 ($X) remains the largest saw logs and veneer logs supplier in ECOWAS, comprising X% of total exports. The second position in the ranking was taken by Ghana ($X), with a X% share of total exports. It was followed by Mali, with a X% share.

In Sierra Leone, saw logs and veneer logs exports increased at an average annual rate of X% over the period from 2012-2023. The remaining exporting countries recorded the following average annual rates of exports growth: Ghana (X% per year) and Mali (X% per year).

Export Prices by Country

The export price in ECOWAS stood at $X per cubic meter in 2023, rising by X% against the previous year. Over the last eleven-year period, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2014 when the export price increased by X% against the previous year. Over the period under review, the export prices hit record highs in 2023 and is expected to retain growth in the near future.

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 ECOWAS

In 2023, after two years of growth, there was significant decline in purchases abroad of saw logs and veneer logs, when their volume decreased by X% to X cubic meters. In general, imports showed a perceptible downturn. The growth pace was the most rapid in 2018 when imports increased by X%. The volume of import peaked at X cubic meters in 2019; however, from 2020 to 2023, imports failed to regain momentum.

In value terms, saw logs and veneer logs imports fell to $X in 2023. Over the period under review, imports recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 with an increase of X% against the previous year. Over the period under review, imports reached the maximum at $X in 2019; however, from 2020 to 2023, imports failed to regain momentum.

Imports by Country

Togo was the major importer of saw logs and veneer logs in ECOWAS, with the volume of imports recording X cubic meters, which was near X% of total imports in 2023. Senegal (X cubic meters) ranks second in terms of the total imports with a X% share, followed by Nigeria (X%) and Ghana (X%). The following importers - Gambia (X cubic meters), Cabo Verde (X cubic meters) and Guinea (X cubic meters) - each accounted for a X% share of total imports.

Togo experienced a relatively flat trend pattern with regard to volume of imports of saw logs and veneer logs. At the same time, Gambia (X%) and Nigeria (X%) displayed positive paces of growth. Moreover, Gambia emerged as the fastest-growing importer imported in ECOWAS, with a CAGR of X% from 2012-2023. Senegal experienced a relatively flat trend pattern. By contrast, Cabo Verde (X%), Ghana (X%) and Guinea (X%) illustrated a downward trend over the same period. From 2012 to 2023, the share of Togo, Nigeria, Senegal and Gambia increased by X, X, X and X percentage points, respectively.

In value terms, Togo ($X), Senegal ($X) and Nigeria ($X) constituted the countries with the highest levels of imports in 2023, together comprising X% of total imports.

In terms of the main importing countries, Nigeria, with a CAGR of X%, saw the highest growth rate of 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 ECOWAS amounted to $X per cubic meter, standing approx. at the previous year. Import price indicated a perceptible 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 most prominent rate of growth was recorded in 2016 an increase of X%. Over the period under review, import prices hit record highs at $X per cubic meter in 2021; however, from 2022 to 2023, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2023, amid the top importers, the country with the highest price was Cabo Verde ($X per cubic meter), while Guinea ($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 Cabo Verde (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform