Western Africa: Sawnwood (Coniferous) Market 2024

Sawnwood (Coniferous) Market Size in Western Africa

In 2022, after two years of growth, there was significant decline in the West African sawnwood (coniferous) market, when its value decreased by -30.8% to $X. Overall, consumption, however, saw resilient growth. Over the period under review, the market attained the maximum level at $X in 2021, and then declined dramatically in the following year.

Sawnwood (Coniferous) Production in Western Africa

In value terms, sawnwood (coniferous) production contracted to $X in 2022 estimated in export price. In general, production, however, showed a strong increase. The growth pace was the most rapid in 2017 when the production volume increased by 53% against the previous year. Over the period under review, production hit record highs at $X in 2021, and then shrank in the following year.

Sawnwood (Coniferous) Exports

Exports in Western Africa

In 2022, the amount of sawnwood (coniferous) exported in Western Africa skyrocketed to X cubic meters, growing by 200% compared with 2021. Overall, exports recorded temperate growth. The most prominent rate of growth was recorded in 2019 when exports increased by 440%. The volume of export peaked at X cubic meters in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

In value terms, sawnwood (coniferous) exports skyrocketed to $X in 2022. Over the period under review, exports posted a buoyant increase. The most prominent rate of growth was recorded in 2018 when exports increased by 189% against the previous year. Over the period under review, the exports hit record highs in 2022 and are likely to see gradual growth in the near future.

Exports by Country

Togo was the largest exporting country with an export of around X cubic meters, which reached 73% of total exports. Nigeria (X cubic meters) took the second position in the ranking, followed by Benin (X cubic meters). All these countries together held approx. 20% share of total exports. The following exporters - Ghana (X cubic meters) and Guinea (X cubic meters) - together made up 6.5% of total exports.

Togo experienced a relatively flat trend pattern with regard to volume of exports of sawnwood (coniferous). At the same time, Benin (+73.2%), Nigeria (+33.1%) and Guinea (+3.2%) displayed positive paces of growth. Moreover, Benin emerged as the fastest-growing exporter exported in Western Africa, with a CAGR of +73.2% from 2012-2022. By contrast, Ghana (-14.1%) illustrated a downward trend over the same period. While the share of Togo (+73 p.p.), Nigeria (+10 p.p.), Benin (+8.9 p.p.) and Guinea (+2.6 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Ghana (-22.3 p.p.) displayed negative dynamics.

In value terms, Togo ($X) remains the largest sawnwood (coniferous) supplier in Western Africa, comprising 55% of total exports. The second position in the ranking was taken by Benin ($X), with an 18% share of total exports. It was followed by Ghana, with a 13% share.

In Togo, sawnwood (coniferous) exports increased at an average annual rate of +10.1% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Benin (+85.2% per year) and Ghana (-1.6% per year).

Export Prices by Country

The export price in Western Africa stood at $X per cubic meter in 2022, shrinking by -29.6% against the previous year. In general, the export price, however, continues to indicate a temperate increase. The growth pace was the most rapid in 2020 an increase of 211%. As a result, the export price attained the peak level of $X per cubic meter. From 2021 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 Ghana ($X per cubic meter), while Togo ($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 (+14.6%), while the other leaders experienced more modest paces of growth.

Sawnwood (Coniferous) Imports

Imports in Western Africa

In 2022, after two years of growth, there was significant decline in overseas purchases of sawnwood (coniferous), when their volume decreased by -22% to X cubic meters. In general, imports, however, posted a prominent increase. The pace of growth appeared the most rapid in 2018 when imports increased by 547%. The volume of import peaked at X cubic meters in 2021, and then contracted sharply in the following year.

In value terms, sawnwood (coniferous) imports reduced markedly to $X in 2022. Over the period under review, imports, however, recorded a buoyant increase. The growth pace was the most rapid in 2018 with an increase of 310% against the previous year. Over the period under review, imports hit record highs at $X in 2021, and then declined remarkably in the following year.

Imports by Country

Ghana represented the main importer of sawnwood (coniferous) in Western Africa, with the volume of imports accounting for X cubic meters, which was near 76% of total imports in 2022. It was distantly followed by Togo (X cubic meters), creating a 17% share of total imports. Senegal (X cubic meters) took a minor share of total imports.

Ghana was also the fastest-growing in terms of the sawnwood (coniferous) imports, with a CAGR of +26.4% from 2012 to 2022. At the same time, Togo (+2.1%) and Senegal (+1.7%) displayed positive paces of growth. From 2012 to 2022, the share of Ghana increased by +57 percentage points.

In value terms, Ghana ($X) constitutes the largest market for imported sawnwood (coniferous) in Western Africa, comprising 74% of total imports. The second position in the ranking was held by Togo ($X), with a 13% share of total imports.

In Ghana, sawnwood (coniferous) imports increased at an average annual rate of +26.2% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Togo (+5.8% per year) and Senegal (+0.2% per year).

Import Prices by Country

In 2022, the import price in Western Africa amounted to $X per cubic meter, declining by -31.5% against the previous year. Overall, the import price, however, posted temperate growth. The most prominent rate of growth was recorded in 2020 an increase of 91% against the previous year. The level of import peaked at $X per cubic meter in 2021, and then dropped dramatically in the following year.

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 Senegal ($X per cubic meter), while Togo ($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 Togo (+3.7%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :