MENA: Market for Coniferous Wood In The Rough 2024

Market Size for Coniferous Wood In The Rough in MENA

In 2022, after four years of growth, there was decline in the MENA's market for coniferous wood in the rough, when its value decreased by -1.4% to $X. Overall, consumption showed a slight setback. As a result, consumption attained the peak level of $X. From 2016 to 2022, the growth of the market remained at a somewhat lower figure.

Production of Coniferous Wood In The Rough in MENA

In value terms, coniferous wood in the rough production shrank to $X in 2022 estimated in export price. Over the period under review, production saw a abrupt descent. The growth pace was the most rapid in 2015 with an increase of 39%. 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 in MENA

In 2022, the amount of coniferous wood in the rough exported in MENA skyrocketed to X cubic meters, rising by 93% compared with 2021. Over the period under review, exports, however, showed a perceptible reduction. The most prominent rate of growth was recorded in 2020 when exports increased by 252%. As a result, the exports attained the peak of X cubic meters. From 2021 to 2022, the growth of the exports failed to regain momentum.

In value terms, coniferous wood in the rough exports skyrocketed to $X in 2022. Overall, exports, however, saw a drastic downturn. The pace of growth was the most pronounced in 2020 when exports increased by 103%. Over the period under review, the coniferous wood in rough exports reached the peak figure at $X in 2013; however, from 2014 to 2022, the exports failed to regain momentum.

Exports by Country

The United Arab Emirates was the key exporter of coniferous wood in the rough in MENA, with the volume of exports amounting to X cubic meters, which was near 76% of total exports in 2022. Egypt (X cubic meters) held the second position in the ranking, distantly followed by Oman (X cubic meters) and Kuwait (X cubic meters). All these countries together took approx. 23% share of total exports.

The United Arab Emirates was also the fastest-growing in terms of the coniferous wood in the rough exports, with a CAGR of +7.4% from 2012 to 2022. At the same time, Oman (+3.4%) displayed positive paces of growth. Kuwait experienced a relatively flat trend pattern. By contrast, Egypt (-14.6%) illustrated a downward trend over the same period. While the share of the United Arab Emirates (+53 p.p.), Oman (+2.8 p.p.) and Kuwait (+1.7 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Egypt (-26.8 p.p.) displayed negative dynamics.

In value terms, Egypt ($X) remains the largest coniferous wood in the rough supplier in MENA, comprising 50% of total exports. The second position in the ranking was taken by the United Arab Emirates ($X), with a 23% share of total exports. It was followed by Oman, with a 22% share.

In Egypt, coniferous wood in the rough exports increased at an average annual rate of +13.8% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: the United Arab Emirates (-19.8% per year) and Oman (+22.3% per year).

Export Prices by Country

In 2022, the export price in MENA amounted to $X per cubic meter, which is down by -34.5% against the previous year. Overall, the export price continues to indicate a deep reduction. The growth pace was the most rapid in 2021 an increase of 137%. Over the period under review, the export prices hit record highs at $X per cubic meter in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Oman ($X per cubic meter), while the United Arab Emirates ($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 Egypt (+33.2%), while the other leaders experienced mixed trends in the export price figures.

Imports of Coniferous Wood In The Rough

Imports in MENA

In 2022, overseas purchases of coniferous wood in the rough decreased by -3.3% to X cubic meters for the first time since 2018, thus ending a three-year rising trend. Overall, imports showed a abrupt slump. The pace of growth appeared the most rapid in 2021 with an increase of 8.4% 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, coniferous wood in the rough imports fell to $X in 2022. Over the period under review, imports saw a abrupt shrinkage. The growth pace was the most rapid in 2020 with an increase of 2.6%. The level of import peaked at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

Egypt represented the main importing country with an import of around X cubic meters, which reached 68% of total imports. It was distantly followed by Morocco (X cubic meters) and Bahrain (X cubic meters), together achieving a 27% share of total imports. Algeria (X cubic meters) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to coniferous wood in the rough imports into Egypt stood at +9.7%. At the same time, Bahrain (+70.6%), Algeria (+34.0%) and Morocco (+2.7%) displayed positive paces of growth. Moreover, Bahrain emerged as the fastest-growing importer imported in MENA, with a CAGR of +70.6% from 2012-2022. From 2012 to 2022, the share of Egypt, Morocco, Bahrain and Algeria increased by +59, +11, +11 and +1.8 percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Egypt ($X) constitutes the largest market for imported coniferous wood in the rough in MENA, comprising 81% of total imports. The second position in the ranking was held by Morocco ($X), with a 13% share of total imports. It was followed by Bahrain, with a 1.5% share.

From 2012 to 2022, the average annual growth rate of value in Egypt stood at +10.3%. The remaining importing countries recorded the following average annual rates of imports growth: Morocco (-1.5% per year) and Bahrain (+29.8% per year).

Import Prices by Country

The import price in MENA stood at $X per cubic meter in 2022, surging by 2.4% against the previous year. Over the last decade, it increased at an average annual rate of +1.4%. The most prominent rate of growth was recorded in 2017 an increase of 48% against the previous year. The level of import peaked at $X per cubic meter in 2018; however, from 2019 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Egypt ($X per cubic meter), while Bahrain ($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 Egypt (+0.6%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform