Western Africa: Roundwood Market 2024

Roundwood Market Size in Western Africa

The West African roundwood market fell modestly to $X in 2022, with a decrease of X% against the previous year. Overall, consumption, however, continues to indicate a relatively flat trend pattern. Over the period under review, the market reached the maximum level at $X in 2016; however, from 2017 to 2022, consumption stood at a somewhat lower figure.

Roundwood Production in Western Africa

In value terms, roundwood production declined modestly to $X in 2022 estimated in export price. In general, production, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 when the production volume increased by X%. The level of production peaked at $X in 2018; however, from 2019 to 2022, production failed to regain momentum.

Roundwood Exports

Exports in Western Africa

In 2022, roundwood exports in Western Africa shrank dramatically to X cubic meters, which is down by X% on 2021 figures. Overall, exports recorded a perceptible contraction. The pace of growth appeared the most rapid in 2014 with an increase of X% against the previous year. Over the period under review, the exports attained the maximum at X cubic meters in 2017; however, from 2018 to 2022, the exports stood at a somewhat lower figure.

In value terms, roundwood exports declined dramatically to $X in 2022. In general, exports continue to indicate a pronounced slump. The growth pace was the most rapid in 2014 with an increase of X% against the previous year. The level of export peaked at $X in 2017; however, from 2018 to 2022, the exports remained at a lower figure.

Exports by Country

In 2022, Nigeria (X cubic meters), Sierra Leone (X cubic meters), Liberia (X cubic meters), Ghana (X cubic meters) and Mali (X cubic meters) represented the main exporter of roundwood in Western Africa, mixing up X% of total export. It was distantly followed by Gambia (X cubic meters), mixing up a X% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by Mali (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, the largest roundwood supplying countries in Western Africa were Sierra Leone ($X), Nigeria ($X) and Mali ($X), with a combined X% share of total exports.

In terms of the main exporting countries, Mali, with a CAGR of X%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the export price in Western Africa amounted to $X per cubic meter, remaining relatively unchanged against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. The pace of growth was the most pronounced in 2014 an increase of X%. The level of export peaked at $X per cubic meter in 2016; however, from 2017 to 2022, the export prices remained at a lower figure.

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 Sierra Leone ($X per cubic meter), while Liberia ($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 Mali (X%), while the other leaders experienced more modest paces of growth.

Roundwood Imports

Imports in Western Africa

Roundwood imports soared to X cubic meters in 2022, increasing by X% against 2021 figures. Overall, imports, however, continue to indicate a noticeable decline. The pace of growth was the most pronounced in 2018 when imports increased by X%. The volume of import peaked at X cubic meters in 2015; however, from 2016 to 2022, imports failed to regain momentum.

In value terms, roundwood imports skyrocketed to $X in 2022. Over the period under review, imports enjoyed a buoyant expansion. The most prominent rate of growth was recorded in 2020 when imports increased by X% against the previous year. Over the period under review, imports attained the maximum in 2022 and are likely to see gradual growth in years to come.

Imports by Country

In 2022, Mauritania (X cubic meters) was the largest importer of roundwood, creating X% of total imports. Nigeria (X cubic meters) took the second position in the ranking, followed by Togo (X cubic meters), Ghana (X cubic meters) and Gambia (X cubic meters). All these countries together took near X% share of total imports. Senegal (X cubic meters) held a minor share of total imports.

Mauritania experienced a relatively flat trend pattern with regard to volume of imports of roundwood. At the same time, Nigeria (X%), Senegal (X%) and Togo (X%) displayed positive paces of growth. Moreover, Nigeria emerged as the fastest-growing importer imported in Western Africa, with a CAGR of X% from 2012-2022. By contrast, Ghana (X%) and Gambia (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Nigeria, Mauritania, Togo and Senegal increased by X, X, X and X percentage points, respectively.

In value terms, Nigeria ($X) constitutes the largest market for imported roundwood in Western Africa, comprising X% of total imports. The second position in the ranking was held by Mauritania ($X), with a X% share of total imports. It was followed by Ghana, with a X% share.

In Nigeria, roundwood imports expanded at an average annual rate of X% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Mauritania (X% per year) and Ghana (X% per year).

Import Prices by Country

In 2022, the import price in Western Africa amounted to $X per cubic meter, flattening at the previous year. Over the period under review, the import price, however, recorded resilient growth. The pace of growth appeared the most rapid in 2020 an increase of X%. Over the period under review, import prices attained the maximum at $X per cubic meter in 2021, and then reduced slightly in the following year.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Nigeria ($X per cubic meter), while Gambia ($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 Ghana (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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