Nigeria: Market for Saw Logs And Veneer Logs (Coniferous) 2025

Market Size for Saw Logs And Veneer Logs (Coniferous) in Nigeria

In 2021, the Nigerien market for saw logs and veneer logs (coniferous) increased by 7.1% to $X, rising for the sixth year in a row after three years of decline. Overall, consumption saw a significant increase. Consumption of peaked in 2021 and is likely to see gradual growth in the near future.

Production of Saw Logs And Veneer Logs (Coniferous) in Nigeria

In value terms, production of saw logs and veneer logs (coniferous) fell to $X in 2021 estimated in export price. Over the period under review, production, however, recorded a moderate increase. The most prominent rate of growth was recorded in 2017 with an increase of 41% against the previous year. Over the period under review, production of reached the peak level at $X in 2020, and then fell in the following year.

Exports of Saw Logs And Veneer Logs (Coniferous)

Exports from Nigeria

In 2021, overseas shipments of saw logs and veneer logs (coniferous) increased by 17% to X cubic meters, rising for the fourth year in a row after two years of decline. In general, exports saw resilient growth. The most prominent rate of growth was recorded in 2014 with an increase of 750%. Over the period under review, the exports of attained the maximum at X cubic meters in 2015; however, from 2016 to 2021, the exports failed to regain momentum.

In value terms, exports of saw logs and veneer logs (coniferous) contracted sharply to $X in 2021. Over the period under review, exports posted a buoyant expansion. The pace of growth appeared the most rapid in 2014 with an increase of 716% against the previous year. Over the period under review, the exports of attained the maximum at $X in 2015; however, from 2016 to 2021, the exports failed to regain momentum.

Exports by Country

Vietnam (X cubic meters) was the main destination for exports of saw logs and veneer logs (coniferous) from Nigeria, accounting for a 77% share of total exports. Moreover, exports of saw logs and veneer logs (coniferous) to Vietnam exceeded the volume sent to the second major destination, India (X cubic meters), fourfold.

From 2012 to 2021, the average annual growth rate of volume to Vietnam totaled +7.1%.

In value terms, Vietnam ($X) remains the key foreign market for saw logs and veneer logs (coniferous) exports from Nigeria, comprising 53% of total exports. The second position in the ranking was held by India ($X), with an 18% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value to Vietnam totaled +9.3%.

Export Prices by Country

The average export price for saw logs and veneer logs (coniferous) stood at $X per cubic meter in 2021, waning by -36.2% against the previous year. Over the period under review, the export price, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 when the average export price increased by 103%. Over the period under review, the average export prices hit record highs at $X per cubic meter in 2020, and then shrank notably in the following year.

Average prices varied noticeably for the major external markets. In 2021, the country with the highest price was India ($X per cubic meter), while the average price for exports to Vietnam amounted to $X per cubic meter.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to China (+40.9%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Saw Logs And Veneer Logs (Coniferous)

Imports into Nigeria

In 2021, supplies from abroad of saw logs and veneer logs (coniferous) increased by 2.9% to X cubic meters, rising for the fourth consecutive year after three years of decline. In general, imports enjoyed a significant expansion. The most prominent rate of growth was recorded in 2020 when imports increased by 13,221% against the previous year. Over the period under review, imports of hit record highs in 2021 and are likely to see gradual growth in years to come.

In value terms, imports of saw logs and veneer logs (coniferous) surged to $X in 2021. Overall, imports saw significant growth. The most prominent rate of growth was recorded in 2020 with an increase of 10,326% against the previous year. Over the period under review, imports of attained the peak figure in 2021 and are expected to retain growth in the near future.

Imports by Country

In 2021, Madagascar (X cubic meters) was the main supplier of saw logs and veneer logs (coniferous) to Nigeria, with a 97% share of total imports. It was followed by China (X cubic meters), with a 1.8% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of volume from Madagascar stood at +3.4%.

In value terms, Madagascar ($X) constituted the largest supplier of saw logs and veneer logs (coniferous) to Nigeria, comprising 97% of total imports. The second position in the ranking was held by China ($X), with a 1.8% share of total imports.

From 2012 to 2021, the average annual growth rate of value from Madagascar totaled +20.8%.

Import Prices by Country

In 2021, the average import price for saw logs and veneer logs (coniferous) amounted to $X per cubic meter, surging by 14% against the previous year. Overall, the import price continues to indicate a temperate expansion. The pace of growth was the most pronounced in 2016 when the average import price increased by 26%. Over the period under review, average import prices attained the maximum at $X per cubic meter in 2019; however, from 2020 to 2021, import prices failed to regain momentum.

Average prices varied noticeably amongst the major supplying countries. In 2021, the country with the highest price was Madagascar ($X per cubic meter), while the price for China stood at $X per cubic meter.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Madagascar (+16.8%).

Source: IndexBox Platform

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