Ghana: Market for Coniferous Wood In The Rough 2024

Market Size for Coniferous Wood In The Rough in Ghana

The Ghanian market for coniferous wood in the rough declined slightly to $X in 2022, almost unchanged from the previous year. Overall, consumption showed a slight decline. As a result, consumption attained the peak level of $X. From 2016 to 2022, the growth of the market failed to regain momentum.

Production of Coniferous Wood In The Rough in Ghana

In value terms, coniferous wood in the rough production fell modestly to $X in 2022 estimated in export price. Over the period under review, production recorded a mild curtailment. The pace of growth was the most pronounced in 2015 with an increase of 46% against the previous year. As a result, production reached the peak level of $X. From 2016 to 2022, production growth remained at a lower figure.

Exports of Coniferous Wood In The Rough

Exports from Ghana

In 2022, after seven years of decline, there was growth in overseas shipments of coniferous wood in the rough, when their volume increased by 4% to X cubic meters. Over the period under review, exports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 with an increase of 218%. As a result, the exports attained the peak of X cubic meters. From 2015 to 2022, the growth of the exports failed to regain momentum.

In value terms, coniferous wood in the rough exports rose notably to $X in 2022. Overall, exports showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 with an increase of 126% against the previous year. Over the period under review, the coniferous wood in rough exports hit record highs at $X in 2015; however, from 2016 to 2022, the exports remained at a lower figure.

Exports by Country

Togo (X cubic meters) was the main destination for coniferous wood in the rough exports from Ghana, with a 99% share of total exports. It was followed by the United States (X cubic meters), with a 1.1% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of volume to Togo stood at +2.5%.

In value terms, Togo ($X) remains the key foreign market for coniferous wood in the rough exports from Ghana, comprising 99% of total exports. The second position in the ranking was held by the United States ($X), with a 1% share of total exports.

From 2012 to 2022, the average annual growth rate of value to Togo amounted to +3.8%.

Export Prices by Country

In 2022, the average export price for coniferous wood in the rough amounted to $X per cubic meter, therefore, remained relatively stable against the previous year. In general, the export price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 when the average export price increased by 61%. As a result, the export price attained the peak level of $X per cubic meter. From 2016 to 2022, the average export prices remained at a somewhat lower figure.

Average prices varied noticeably for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Togo ($X per cubic meter), while the average price for exports to the United States amounted to $X per cubic meter.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the United States (+3.5%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Coniferous Wood In The Rough

Imports into Ghana

In 2022, coniferous wood in the rough imports into Ghana declined dramatically to X cubic meters, falling by -16.7% on the previous year's figure. In general, imports recorded a precipitous descent. The most prominent rate of growth was recorded in 2013 when imports increased by 39%. As a result, imports attained the peak of X cubic meters. From 2014 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, coniferous wood in the rough imports reduced slightly to $X in 2022. Over the period under review, imports continue to indicate a sharp descent. The pace of growth appeared the most rapid in 2013 when imports increased by 49%. As a result, imports attained the peak of $X. From 2014 to 2022, the growth of imports failed to regain momentum.

Imports by Country

In 2022, South Africa (X cubic meters) constituted the largest coniferous wood in the rough supplier to Ghana, with a 56% share of total imports. Moreover, coniferous wood in the rough imports from South Africa exceeded the figures recorded by the second-largest supplier, Chile (X cubic meters), twofold.

From 2012 to 2022, the average annual growth rate of volume from South Africa stood at -24.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Chile (-36.7% per year) and the United States (-27.5% per year).

In value terms, the largest coniferous wood in the rough suppliers to Ghana were South Africa ($X), the United States ($X) and Chile ($X).

The United States, with a CAGR of -15.3%, recorded the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced a decline.

Import Prices by Country

In 2022, the average import price for coniferous wood in the rough amounted to $X per cubic meter, rising by 18% against the previous year. Overall, the import price showed a strong expansion. The most prominent rate of growth was recorded in 2021 an increase of 88%. The import price peaked in 2022 and is likely to see gradual growth in the near future.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the United States ($X per cubic meter), while the price for Chile ($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 Burkina Faso (+763.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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