ECOWAS: Sawnwood (Non-Coniferous) Market 2024

Sawnwood (Non-Coniferous) Market Size in ECOWAS

The ECOWAS sawnwood (non-coniferous) market expanded sharply to $X in 2022, increasing by 7.3% against the previous year. Overall, consumption recorded a relatively flat trend pattern. Over the period under review, the market hit record highs 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 rose slightly to $X in 2022 estimated in export price. Over the period under review, production showed a relatively flat trend pattern. The growth pace was the most rapid in 2013 when the production volume increased by 16% against the previous year. As a result, production reached the peak level of $X. From 2014 to 2022, production growth failed to regain momentum.

Sawnwood (Non-Coniferous) Exports

Exports in ECOWAS

In 2022, approx. X cubic meters of sawnwood (non-coniferous) were exported in ECOWAS; reducing by -28.7% against 2021. Over the period under review, exports showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 with an increase of 78% against the previous year. As a result, the exports reached the peak of X cubic meters. From 2014 to 2022, the growth of the exports failed to regain momentum.

In value terms, sawnwood (non-coniferous) exports dropped to $X in 2022. Overall, exports, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2013 when exports increased by 74%. As a result, the exports reached the peak of $X. From 2014 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

Ghana was the largest exporting country with an export of around X cubic meters, which amounted to 50% of total exports. Cote d'Ivoire (X cubic meters) ranks second in terms of the total exports with a 25% share, followed by Gambia (7.9%), Nigeria (7.8%) and Sierra Leone (5.3%). Benin (X cubic meters) took a minor share of total exports.

From 2012 to 2022, average annual rates of growth with regard to sawnwood (non-coniferous) exports from Ghana stood at +3.6%. At the same time, Gambia (+51.0%), Sierra Leone (+26.5%) and Nigeria (+11.4%) displayed positive paces of growth. Moreover, Gambia emerged as the fastest-growing exporter exported in ECOWAS, with a CAGR of +51.0% from 2012-2022. By contrast, Cote d'Ivoire (-8.1%) and Benin (-8.8%) illustrated a downward trend over the same period. Ghana (+17 p.p.), Gambia (+7.7 p.p.), Nigeria (+5.3 p.p.) and Sierra Leone (+4.8 p.p.) significantly strengthened its position in terms of the total exports, while Benin and Cote d'Ivoire saw its share reduced by -4.1% and -29.5% from 2012 to 2022, respectively.

In value terms, Ghana ($X), Cote d'Ivoire ($X) and Nigeria ($X) were the countries with the highest levels of exports in 2022, together accounting for 81% of total exports. Gambia, Sierra Leone and Benin lagged somewhat behind, together comprising a further 17%.

Gambia, with a CAGR of +49.4%, saw the highest rates of growth with regard to 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

The export price in ECOWAS stood at $X per cubic meter in 2022, jumping by 24% against the previous year. Overall, the export price saw a relatively flat trend pattern. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Average prices varied somewhat amongst the major exporting countries. In 2022, major exporting countries recorded the following prices: in Benin ($X per cubic meter) and Sierra Leone ($X per cubic meter), while Gambia ($X per cubic meter) and Ghana ($X per cubic meter) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Sierra Leone (+6.9%), while the other leaders experienced more modest paces of growth.

Sawnwood (Non-Coniferous) Imports

Imports in ECOWAS

For the fourth consecutive year, ECOWAS recorded growth in overseas purchases of sawnwood (non-coniferous), which increased by 9.6% to X cubic meters in 2022. Over the period under review, imports showed resilient growth. The pace of growth was the most pronounced in 2019 when imports increased by 56%. Over the period under review, imports reached the peak figure in 2022 and are likely to continue growth in the immediate term.

In value terms, sawnwood (non-coniferous) imports fell modestly to $X in 2022. In general, imports, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2019 when imports increased by 38%. Over the period under review, imports attained the maximum at $X in 2013; however, from 2014 to 2022, imports failed to regain momentum.

Imports by Country

Senegal represented the key importing country with an import of around X cubic meters, which finished at 61% of total imports. It was distantly followed by Niger (X cubic meters), comprising a 31% share of total imports. The following importers - Mali (X cubic meters), Cabo Verde (X cubic meters) and Nigeria (X cubic meters) - together made up 7.6% of total imports.

From 2012 to 2022, the biggest increases were recorded for Niger (with a CAGR of +27.0%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Senegal ($X) constitutes the largest market for imported sawnwood (non-coniferous) in ECOWAS, comprising 76% of total imports. The second position in the ranking was taken by Niger ($X), with a 14% share of total imports. It was followed by Nigeria, with a 3.4% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Senegal was relatively modest. In the other countries, the average annual rates were as follows: Niger (+5.2% per year) and Nigeria (-6.2% per year).

Import Prices by Country

The import price in ECOWAS stood at $X per cubic meter in 2022, falling by -10.1% against the previous year. Over the period under review, the import price recorded a deep downturn. The growth pace was the most rapid in 2014 an increase of 8%. As a result, import price attained the peak level of $X per cubic meter. From 2015 to 2022, the import prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Nigeria ($X per cubic meter), while Niger ($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 Nigeria (-1.6%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform