ECOWAS: Sawnwood (Non-Coniferous) Market 2024

Sawnwood (Non-Coniferous) Market Size in ECOWAS

The ECOWAS sawnwood (non-coniferous) market amounted to $X in 2022, leveling off at the previous year. Over the period under review, consumption, however, saw a relatively flat trend pattern. The level of consumption peaked at $X in 2020; however, from 2021 to 2022, consumption failed to regain momentum.

Sawnwood (Non-Coniferous) Production in ECOWAS

In value terms, sawnwood (non-coniferous) production totaled $X in 2022 estimated in export price. Over the period under review, production, however, showed a mild curtailment. The growth pace was the most rapid in 2016 with an increase of X%. Over the period under review, production attained the peak level at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Sawnwood (Non-Coniferous) Exports

Exports in ECOWAS

In 2022, overseas shipments of sawnwood (non-coniferous) increased by X% to X cubic meters, rising for the second year in a row after two years of decline. Total exports indicated a temperate increase from 2012 to 2022: its volume increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2013 when exports increased by X% against the previous year. The volume of export peaked at X cubic meters in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

In value terms, sawnwood (non-coniferous) exports declined to $X in 2022. Total exports indicated tangible growth from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2013 when exports increased by X% against the previous year. The level of export peaked at $X in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Ghana (X cubic meters) and Cote d'Ivoire (X cubic meters) represented roughly X% of total exports in 2022. Nigeria (X cubic meters) ranks next in terms of the total exports with a X% share, followed by Gambia (X%). The following exporters - Sierra Leone (X cubic meters), Senegal (X cubic meters) and Benin (X cubic meters) - together made up X% of total exports.

From 2012 to 2022, the biggest increases were recorded for Gambia (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Ghana ($X), Cote d'Ivoire ($X) and Nigeria ($X) constituted the countries with the highest levels of exports in 2022, together comprising X% of total exports. Gambia, Sierra Leone, Benin and Senegal lagged somewhat behind, together accounting for a further X%.

Gambia, with a CAGR of X%, recorded the highest growth rate of 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

In 2022, the export price in ECOWAS amounted to $X per cubic meter, shrinking by X% against the previous year. Over the period under review, the export price saw a noticeable decline. The most prominent rate of growth was recorded in 2021 an increase of X%. Over the period under review, the export prices hit record highs at $X per cubic meter in 2014; however, from 2015 to 2022, the export prices stood at a somewhat lower figure.

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 Benin ($X per cubic meter), while Senegal ($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 Sierra Leone (X%), while the other leaders experienced mixed trends in the export price figures.

Sawnwood (Non-Coniferous) Imports

Imports in ECOWAS

In 2022, the amount of sawnwood (non-coniferous) imported in ECOWAS shrank to X cubic meters, declining by X% compared with the previous year. Total imports indicated notable growth from 2012 to 2022: its volume increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by X% against 2016 indices. The growth pace was the most rapid in 2019 when imports increased by X%. The volume of import peaked at X cubic meters in 2021, and then contracted in the following year.

In value terms, sawnwood (non-coniferous) imports shrank dramatically to $X in 2022. Overall, imports recorded a mild descent. The most prominent rate of growth was recorded in 2019 when imports increased by X% against the previous year. Over the period under review, imports hit record highs at $X in 2013; however, from 2014 to 2022, imports remained at a lower figure.

Imports by Country

Senegal represented the major importer of sawnwood (non-coniferous) in ECOWAS, with the volume of imports finishing at X cubic meters, which was approx. X% of total imports in 2022. Burkina Faso (X cubic meters) ranks second in terms of the total imports with a X% share, followed by Niger (X%). The following importers - Cabo Verde (X cubic meters) and Mali (X cubic meters) - each accounted for a X% share of total imports.

From 2012 to 2022, average annual rates of growth with regard to sawnwood (non-coniferous) imports into Senegal stood at X%. At the same time, Burkina Faso (X%), Niger (X%) and Cabo Verde (X%) displayed positive paces of growth. Moreover, Burkina Faso emerged as the fastest-growing importer imported in ECOWAS, with a CAGR of X% from 2012-2022. By contrast, Mali (X%) illustrated a downward trend over the same period. Burkina Faso (X p.p.) and Niger (X p.p.) significantly strengthened its position in terms of the total imports, while Senegal saw its share reduced by X% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Senegal ($X) constitutes the largest market for imported sawnwood (non-coniferous) in ECOWAS, comprising X% of total imports. The second position in the ranking was taken by Niger ($X), with a X% share of total imports. It was followed by Cabo Verde, with a X% share.

In Senegal, sawnwood (non-coniferous) imports shrank by an average annual rate of X% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Niger (X% per year) and Cabo Verde (X% per year).

Import Prices by Country

The import price in ECOWAS stood at $X per cubic meter in 2022, which is down by X% against the previous year. In general, the import price recorded a deep slump. The most prominent rate of growth was recorded in 2014 when the import price increased by X%. As a result, import price reached the peak level of $X per cubic meter. From 2015 to 2022, the import prices remained at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Cabo Verde ($X per cubic meter), while Burkina Faso ($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 Cabo Verde (X%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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