ECOWAS: Market for Saw Logs And Veneer Logs (Non-Coniferous) 2025

Market Size for Saw Logs And Veneer Logs (Non-Coniferous) in ECOWAS

In 2022, the ECOWAS market for saw logs and veneer logs (non-coniferous) increased by 0.5% to $X, rising for the second year in a row after four years of decline. Overall, consumption, however, continues to indicate a slight reduction. The level of consumption peaked at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Production of Saw Logs And Veneer Logs (Non-Coniferous) in ECOWAS

In value terms, production of saw logs and veneer logs (non-coniferous) declined slightly to $X in 2022 estimated in export price. In general, production continues to indicate a noticeable curtailment. The most prominent rate of growth was recorded in 2014 when the production volume increased by 11% against the previous year. Over the period under review, production of attained the maximum level at $X in 2016; however, from 2017 to 2022, production failed to regain momentum.

Exports of Saw Logs And Veneer Logs (Non-Coniferous)

Exports in ECOWAS

In 2022, exports of saw logs and veneer logs (non-coniferous) in ECOWAS shrank significantly to X cubic meters, falling by -46.9% compared with the previous year's figure. Over the period under review, exports saw a abrupt downturn. The pace of growth was the most pronounced in 2014 with an increase of 38% against the previous year. As a result, the exports attained the peak of X cubic meters. From 2015 to 2022, the growth of the exports of failed to regain momentum.

In value terms, exports of saw logs and veneer logs (non-coniferous) declined significantly to $X in 2022. Overall, exports continue to indicate a noticeable setback. The pace of growth was the most pronounced in 2014 with an increase of 62%. The level of export peaked at $X in 2017; however, from 2018 to 2022, the exports remained at a lower figure.

Exports by Country

Nigeria (X cubic meters) and Sierra Leone (X cubic meters) were the major exporters of saw logs and veneer logs (non-coniferous) in 2022, accounting for near 27% and 27% of total exports, respectively. It was distantly followed by Ghana (X cubic meters), Mali (X cubic meters), Liberia (X cubic meters) and Gambia (X cubic meters), together mixing up a 44% share of total exports.

From 2012 to 2022, the biggest increases were recorded for Mali (with a CAGR of +59.6%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest saw logs and veneer logs (non-coniferous) supplying countries in ECOWAS were Sierra Leone ($X), Nigeria ($X) and Ghana ($X), together comprising 72% of total exports. Mali, Gambia and Liberia lagged somewhat behind, together accounting for a further 26%.

Mali, with a CAGR of +69.1%, saw the highest rates of growth with regard to 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, surging by 9.4% against the previous year. Over the last decade, it increased at an average annual rate of +3.1%. The pace of growth was the most pronounced in 2014 an increase of 18%. The level of export peaked in 2022 and is expected to retain growth in the near future.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Sierra Leone ($X per cubic meter), while Liberia ($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 (+7.7%), while the other leaders experienced more modest paces of growth.

Imports of Saw Logs And Veneer Logs (Non-Coniferous)

Imports in ECOWAS

In 2022, supplies from abroad of saw logs and veneer logs (non-coniferous) decreased by -15.6% to X cubic meters for the first time since 2019, thus ending a two-year rising trend. Overall, imports showed a slight slump. The growth pace was the most rapid in 2016 when imports increased by 83% against the previous year. The volume of import peaked at X cubic meters in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

In value terms, imports of saw logs and veneer logs (non-coniferous) dropped remarkably to $X in 2022. Over the period under review, imports, however, enjoyed a tangible expansion. The most prominent rate of growth was recorded in 2018 with an increase of 105% against the previous year. The level of import peaked at $X in 2021, and then reduced notably in the following year.

Imports by Country

In 2022, Ghana (X cubic meters) was the major importer of saw logs and veneer logs (non-coniferous), committing 64% of total imports. It was distantly followed by Nigeria (X cubic meters), creating a 22% share of total imports. The following importers - Senegal (X cubic meters), Togo (X cubic meters), Cabo Verde (X cubic meters) and Guinea (X cubic meters) - together made up 13% of total imports.

Ghana was also the fastest-growing in terms of the saw logs and veneer logs (non-coniferous) imports, with a CAGR of +28.4% from 2012 to 2022. At the same time, Nigeria (+13.6%) displayed positive paces of growth. By contrast, Togo (-6.1%), Cabo Verde (-10.7%), Senegal (-17.6%) and Guinea (-18.3%) illustrated a downward trend over the same period. Ghana (+60 p.p.) and Nigeria (+17 p.p.) significantly strengthened its position in terms of the total imports, while Togo, Cabo Verde, Guinea and Senegal saw its share reduced by -2.2%, -4.7%, -12% and -19.1% from 2012 to 2022, respectively.

In value terms, Ghana ($X) constitutes the largest market for imported saw logs and veneer logs (non-coniferous) in ECOWAS, comprising 66% of total imports. The second position in the ranking was taken by Nigeria ($X), with a 17% share of total imports. It was followed by Cabo Verde, with an 8.7% share.

From 2012 to 2022, the average annual growth rate of value in Ghana stood at +42.6%. In the other countries, the average annual rates were as follows: Nigeria (+20.9% per year) and Cabo Verde (-1.3% per year).

Import Prices by Country

The import price in ECOWAS stood at $X per cubic meter in 2022, falling by -17.6% against the previous year. Import price indicated a buoyant increase from 2012 to 2022: its price increased at an average annual rate of +6.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, import price for saw logs and veneer logs (non-coniferous) increased by +30.4% against 2020 indices. The most prominent rate of growth was recorded in 2021 an increase of 58%. As a result, import price reached the peak level of $X per cubic meter, and then shrank sharply in the following year.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Cabo Verde ($X per cubic meter), while Guinea ($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 Togo (+17.3%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform