Singapore: Sawnwood (Coniferous) Market 2024

Sawnwood (Coniferous) Market Size in Singapore

In 2022, the Singaporean sawnwood (coniferous) market was finally on the rise to reach $X after four years of decline. In general, consumption posted significant growth. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Sawnwood (Coniferous) Production in Singapore

In value terms, sawnwood (coniferous) production surged to $X in 2022 estimated in export price. Overall, production showed a prominent increase. The most prominent rate of growth was recorded in 2020 when the production volume increased by 161% against the previous year. As a result, production reached the peak level of $X. From 2021 to 2022, production growth remained at a somewhat lower figure.

Sawnwood (Coniferous) Exports

Exports from Singapore

For the eleventh year in a row, Singapore recorded growth in overseas shipments of sawnwood (coniferous), which increased by 167% to X cubic meters in 2022. In general, exports showed a significant increase. The pace of growth appeared the most rapid in 2016 when exports increased by 385% against the previous year. Over the period under review, the exports hit record highs in 2022 and are likely to see gradual growth in years to come.

In value terms, sawnwood (coniferous) exports surged to $X in 2022. Over the period under review, exports recorded a significant increase. The most prominent rate of growth was recorded in 2016 with an increase of 358% against the previous year. The exports peaked in 2022 and are likely to see gradual growth in the immediate term.

Exports by Country

Malaysia (X cubic meters) was the main destination for sawnwood (coniferous) exports from Singapore, accounting for a 90% share of total exports. Moreover, sawnwood (coniferous) exports to Malaysia exceeded the volume sent to the second major destination, Maldives (X cubic meters), tenfold.

From 2012 to 2022, the average annual growth rate of volume to Malaysia amounted to +131.1%.

In value terms, Malaysia ($X) remains the key foreign market for sawnwood (coniferous) exports from Singapore, comprising 91% of total exports. The second position in the ranking was taken by Maldives ($X), with a 7.4% share of total exports.

From 2012 to 2022, the average annual growth rate of value to Malaysia amounted to +163.0%.

Export Prices by Country

In 2022, the average sawnwood (coniferous) export price amounted to $X per cubic meter, surging by 12% against the previous year. Over the period under review, the export price, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when the average export price increased by 52% against the previous year. The export price peaked at $X per cubic meter in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

Average prices varied noticeably for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Malaysia ($X per cubic meter), while the average price for exports to Maldives stood at $X per cubic meter.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Malaysia (+13.8%).

Sawnwood (Coniferous) Imports

Imports into Singapore

Sawnwood (coniferous) imports into Singapore soared to X cubic meters in 2022, surging by 14,879% on the previous year's figure. In general, imports showed a significant increase. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, sawnwood (coniferous) imports soared to $X in 2022. Overall, imports saw a significant expansion. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2022, New Zealand (X cubic meters) constituted the largest supplier of sawnwood (coniferous) to Singapore, accounting for a 37% share of total imports. Moreover, sawnwood (coniferous) imports from New Zealand exceeded the figures recorded by the second-largest supplier, Canada (X cubic meters), twofold. The third position in this ranking was held by Chile (X cubic meters), with a 15% share.

From 2014 to 2022, the average annual growth rate of volume from New Zealand totaled +114.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Canada (+170.7% per year) and Chile (+234.7% per year).

In value terms, New Zealand ($X) constituted the largest supplier of sawnwood (coniferous) to Singapore, comprising 34% of total imports. The second position in the ranking was held by Canada ($X), with a 15% share of total imports. It was followed by Chile, with a 14% share.

From 2014 to 2022, the average annual rate of growth in terms of value from New Zealand amounted to +102.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Canada (+158.3% per year) and Chile (+209.6% per year).

Import Prices by Country

The average sawnwood (coniferous) import price stood at $X per cubic meter in 2022, with an increase of 1.8% against the previous year. In general, the import price, however, recorded a pronounced contraction. The growth pace was the most rapid in 2021 when the average import price increased by 45%. Over the period under review, average import prices reached the maximum at $X per cubic meter in 2014; however, from 2015 to 2022, import prices remained at a lower figure.

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 Ukraine ($X per cubic meter), while the price for Brazil ($X per cubic meter) was amongst the lowest.

From 2014 to 2022, the most notable rate of growth in terms of prices was attained by Ukraine (+65.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :