Middle East: Coniferous Roundwood Market 2024

Coniferous Roundwood Market Size in the Middle East

The Middle Eastern coniferous roundwood market contracted slightly to $X in 2022, with a decrease of -2% against the previous year. The market value increased at an average annual rate of +1.8% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, consumption reached the peak level of $X. From 2020 to 2022, the growth of the market failed to regain momentum.

Coniferous Roundwood Production in the Middle East

In value terms, coniferous roundwood production dropped modestly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +2.5% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2019 with an increase of 45% against the previous year. As a result, production reached the peak level of $X. From 2020 to 2022, production growth remained at a somewhat lower figure.

Coniferous Roundwood Exports

Exports in the Middle East

In 2022, approx. X cubic meters of roundwood (coniferous) were exported in the Middle East; increasing by 19% compared with the previous year. In general, exports recorded a notable increase. The most prominent rate of growth was recorded in 2013 with an increase of 77%. The volume of export peaked at X cubic meters in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

In value terms, coniferous roundwood exports skyrocketed to $X in 2022. Overall, exports showed a perceptible increase. The growth pace was the most rapid in 2013 with an increase of 84%. Over the period under review, the exports attained the peak figure at $X in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

In 2022, the United Arab Emirates (X cubic meters) represented the largest exporter of roundwood (coniferous), constituting 75% of total exports. It was distantly followed by Jordan (X cubic meters), generating a 22% share of total exports.

From 2012 to 2022, average annual rates of growth with regard to coniferous roundwood exports from the United Arab Emirates stood at +6.2%. At the same time, Jordan (+62.1%) displayed positive paces of growth. Moreover, Jordan emerged as the fastest-growing exporter exported in the Middle East, with a CAGR of +62.1% from 2012-2022. While the share of the United Arab Emirates (+23 p.p.) and Jordan (+22 p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United Arab Emirates ($X) remains the largest coniferous roundwood supplier in the Middle East, comprising 85% of total exports. The second position in the ranking was taken by Jordan ($X), with a 13% share of total exports.

In the United Arab Emirates, coniferous roundwood exports increased at an average annual rate of +6.9% over the period from 2012-2022.

Export Prices by Country

The export price in the Middle East stood at $X per cubic meter in 2022, declining by -1.7% against the previous year. In general, the export price, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2019 an increase of 34% against the previous year. As a result, the export price reached the peak level of $X per cubic meter. From 2020 to 2022, the export prices failed to regain momentum.

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 the United Arab Emirates ($X per cubic meter), while Jordan stood at $X per cubic meter.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+0.6%).

Coniferous Roundwood Imports

Imports in the Middle East

In 2022, overseas purchases of roundwood (coniferous) were finally on the rise to reach X cubic meters after two years of decline. Over the period under review, imports, however, saw a dramatic setback. The volume of import peaked at X cubic meters in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, coniferous roundwood imports skyrocketed to $X in 2022. Overall, imports, however, faced a deep reduction. Over the period under review, imports attained the maximum at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

The United Arab Emirates represented the major importer of roundwood (coniferous) in the Middle East, with the volume of imports amounting to X cubic meters, which was approx. 74% of total imports in 2022. It was distantly followed by Israel (X cubic meters), comprising a 13% share of total imports. Oman (X cubic meters), Turkey (X cubic meters) and Kuwait (X cubic meters) took a little share of total imports.

From 2012 to 2022, average annual rates of growth with regard to coniferous roundwood imports into the United Arab Emirates stood at -4.3%. At the same time, Oman (+12.3%), Israel (+9.9%) and Kuwait (+2.2%) displayed positive paces of growth. Moreover, Oman emerged as the fastest-growing importer imported in the Middle East, with a CAGR of +12.3% from 2012-2022. By contrast, Turkey (-44.2%) illustrated a downward trend over the same period. The United Arab Emirates (+64 p.p.), Israel (+13 p.p.), Oman (+4.1 p.p.) and Kuwait (+2.2 p.p.) significantly strengthened its position in terms of the total imports, while Turkey saw its share reduced by -85.6% from 2012 to 2022, respectively.

In value terms, the United Arab Emirates ($X) constitutes the largest market for imported roundwood (coniferous) in the Middle East, comprising 72% of total imports. The second position in the ranking was held by Oman ($X), with a 7.8% share of total imports. It was followed by Israel, with a 7.1% share.

From 2012 to 2022, the average annual growth rate of value in the United Arab Emirates totaled +3.2%. In the other countries, the average annual rates were as follows: Oman (+5.9% per year) and Israel (+7.8% per year).

Import Prices by Country

In 2022, the import price in the Middle East amounted to $X per cubic meter, picking up by 4.5% against the previous year. Import price indicated measured growth from 2012 to 2022: its price increased at an average annual rate of +4.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, coniferous roundwood import price increased by +93.8% against 2016 indices. The growth pace was the most rapid in 2017 an increase of 33% against the previous year. The level of import peaked in 2022 and is expected to retain growth in the near future.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Oman ($X per cubic meter), while Israel ($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 the United Arab Emirates (+7.8%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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