ECOWAS: Wood Fuel Market 2025

Wood Fuel Market Size in ECOWAS

The ECOWAS wood fuel market reduced slightly to $X in 2022, which is down by -2.8% against the previous year. The market value increased at an average annual rate of +1.0% from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded throughout the analyzed period. The level of consumption peaked at $X in 2018; however, from 2019 to 2022, consumption stood at a somewhat lower figure.

Wood Fuel Production in ECOWAS

In value terms, wood fuel production dropped modestly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +1.2% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2016 with an increase of 28% against the previous year. Over the period under review, production reached the peak level at $X in 2018; however, from 2019 to 2022, production remained at a lower figure.

Wood Fuel Exports

Exports in ECOWAS

In 2022, overseas shipments of wood fuel were finally on the rise to reach X cubic meters after two years of decline. In general, exports, however, showed a abrupt decrease. The pace of growth was the most pronounced in 2014 with an increase of 112%. Over the period under review, the exports hit record highs at X cubic meters in 2016; however, from 2017 to 2022, the exports failed to regain momentum.

In value terms, wood fuel exports rose modestly to $X in 2022. Overall, exports, however, faced a abrupt curtailment. The pace of growth was the most pronounced in 2015 with an increase of 26% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

Senegal represented the key exporting country with an export of around X cubic meters, which resulted at 75% of total exports. Nigeria (X cubic meters) took the second position in the ranking, followed by Ghana (X cubic meters). All these countries together took near 22% share of total exports. Benin (X cubic meters) took a relatively small share of total exports.

From 2012 to 2022, average annual rates of growth with regard to wood fuel exports from Senegal stood at -12.1%. At the same time, Nigeria (+44.7%) and Benin (+17.6%) displayed positive paces of growth. Moreover, Nigeria emerged as the fastest-growing exporter exported in ECOWAS, with a CAGR of +44.7% from 2012-2022. Ghana experienced a relatively flat trend pattern. While the share of Nigeria (+14 p.p.), Ghana (+5.8 p.p.) and Benin (+2.1 p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Senegal ($X) remains the largest wood fuel supplier in ECOWAS, comprising 53% of total exports. The second position in the ranking was held by Nigeria ($X), with a 20% share of total exports. It was followed by Ghana, with a 17% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Senegal stood at -15.2%. In the other countries, the average annual rates were as follows: Nigeria (+19.4% per year) and Ghana (-4.8% per year).

Export Prices by Country

The export price in ECOWAS stood at $X per cubic meter in 2022, with a decrease of -7% against the previous year. Overall, the export price, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2017 an increase of 153% against the previous year. The level of export peaked at $X per cubic meter in 2018; however, from 2019 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 Benin (+8.1%), while the other leaders experienced a decline in the export price figures.

Wood Fuel Imports

Imports in ECOWAS

In 2022, overseas purchases of wood fuel were finally on the rise to reach X cubic meters after two years of decline. Over the period under review, imports, however, continue to indicate a deep setback. The most prominent rate of growth was recorded in 2019 when imports increased by 675% against the previous year. The volume of import peaked at X cubic meters in 2015; however, from 2016 to 2022, imports stood at a somewhat lower figure.

In value terms, wood fuel imports soared to $X in 2022. Overall, imports, however, recorded a deep setback. The growth pace was the most rapid in 2019 with an increase of 291%. The level of import peaked at $X in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Gambia (X cubic meters) represented the key importer of wood fuel in ECOWAS, generating 98% of total import.

Gambia was also the fastest-growing in terms of the wood fuel imports, with a CAGR of -11.9% from 2012 to 2022. The shares of the largest importers remained relatively stable throughout the analyzed period.

In value terms, Gambia ($X) constitutes the largest market for imported wood fuel in ECOWAS.

From 2012 to 2022, the average annual growth rate of value in Gambia totaled -14.8%.

Import Prices by Country

In 2022, the import price in ECOWAS amounted to $X per cubic meter, dropping by -5.4% against the previous year. In general, the import price saw a perceptible decrease. The growth pace was the most rapid in 2018 an increase of 95%. As a result, import price attained the peak level of $X per cubic meter. From 2019 to 2022, the import prices remained at a lower figure.

As there is only one major supplying country, the average price level is determined by prices for Gambia.

From 2012 to 2022, the rate of growth in terms of prices for Gambia amounted to -3.3% per year.

Source: IndexBox Platform