ECOWAS: Market for Builders' Joinery And Carpentry Of Wood 2024

Market Size for Builders' Joinery And Carpentry Of Wood in ECOWAS

The ECOWAS wooden joinery and carpentry market expanded markedly to $X in 2021, with an increase of 9.6% against the previous year. Over the period under review, consumption, however, saw a relatively flat trend pattern. The level of consumption peaked at $X in 2013; however, from 2014 to 2021, consumption stood at a somewhat lower figure.

Production of Builders' Joinery And Carpentry Of Wood in ECOWAS

In value terms, wooden joinery and carpentry production rose rapidly to $X in 2021 estimated in export price. In general, production, however, saw a relatively flat trend pattern. Over the period under review, production reached the maximum level at $X in 2013; however, from 2014 to 2021, production stood at a somewhat lower figure.

Exports of Builders' Joinery And Carpentry Of Wood

Exports in ECOWAS

In 2021, the amount of builders' joinery and carpentry of wood exported in ECOWAS totaled X tons, picking up by 5.5% against the previous year. Overall, exports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 when exports increased by 29%. Over the period under review, the exports attained the maximum at X tons in 2019; afterwards, it flattened through to 2021.

In value terms, wooden joinery and carpentry exports reduced to $X in 2021. In general, exports, however, showed a mild setback. The most prominent rate of growth was recorded in 2016 with an increase of 23%. The level of export peaked at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

In 2021, Senegal (X tons) was the major exporter of builders' joinery and carpentry of wood, committing 47% of total exports. Ghana (X tons) ranks second in terms of the total exports with a 27% share, followed by Cote d'Ivoire (21%). The following exporters - Sierra Leone (X tons) and Benin (X tons) - each resulted at a 3.9% share of total exports.

From 2012 to 2021, the biggest increases were recorded for Benin (with a CAGR of +71.8%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest wooden joinery and carpentry supplying countries in ECOWAS were Senegal ($X), Ghana ($X) and Cote d'Ivoire ($X), together accounting for 92% of total exports. Sierra Leone and Benin lagged somewhat behind, together comprising a further 6.3%.

Benin, with a CAGR of +72.8%, saw the highest growth rate of the value of exports, in terms of 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 2021, the export price in ECOWAS amounted to $X per ton, reducing by -12.2% against the previous year. In general, the export price showed a pronounced decrease. The most prominent rate of growth was recorded in 2020 when the export price increased by 15%. Over the period under review, the export prices reached the maximum at $X per ton in 2012; however, from 2013 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Sierra Leone ($X per ton), while Cote d'Ivoire ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Sierra Leone (+10.0%), while the other leaders experienced more modest paces of growth.

Imports of Builders' Joinery And Carpentry Of Wood

Imports in ECOWAS

Wooden joinery and carpentry imports totaled X tons in 2021, rising by 12% compared with the previous year's figure. Over the period under review, imports, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 with an increase of 75%. As a result, imports reached the peak of X tons. From 2014 to 2021, the growth of imports remained at a lower figure.

In value terms, wooden joinery and carpentry imports soared to $X in 2021. Total imports indicated a tangible expansion from 2012 to 2021: its value increased at an average annual rate of +3.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +42.0% against 2019 indices. The pace of growth appeared the most rapid in 2013 with an increase of 38% against the previous year. The level of import peaked at $X in 2014; however, from 2015 to 2021, imports stood at a somewhat lower figure.

Imports by Country

Ghana (X tons) and Senegal (X tons) represented roughly 39% of total imports in 2021. It was distantly followed by Nigeria (X tons), Mali (X tons), Cabo Verde (X tons), Cote d'Ivoire (X tons) and Benin (X tons), together generating a 46% share of total imports.

From 2012 to 2021, the biggest increases were recorded for Benin (with a CAGR of +17.3%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Ghana ($X), Senegal ($X) and Nigeria ($X) appeared to be the countries with the highest levels of imports in 2021, together comprising 56% of total imports. Mali, Cote d'Ivoire, Cabo Verde and Benin lagged somewhat behind, together comprising a further 30%.

Among the main importing countries, Benin, with a CAGR of +23.3%, recorded 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 2021, the import price in ECOWAS amounted to $X per ton, rising by 14% against the previous year. Import price indicated a tangible expansion from 2012 to 2021: its price increased at an average annual rate of +3.6% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2014 when the import price increased by 33% against the previous year. The level of import peaked at $X per ton in 2016; however, from 2017 to 2021, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was Ghana ($X per ton), while Cabo Verde ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Benin (+5.1%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform