ECOWAS: Roundwood Market 2024

Roundwood Market Size in ECOWAS

The ECOWAS roundwood market rose remarkably to $X in 2023, surging by X% against the previous year. In general, consumption showed a slight expansion. The level of consumption peaked in 2023 and is expected to retain growth in the near future.

Roundwood Production in ECOWAS

In value terms, roundwood production expanded to $X in 2023 estimated in export price. Over the period under review, production recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2016 when the production volume increased by X%. As a result, production attained the peak level of $X. From 2017 to 2023, production growth remained at a somewhat lower figure.

Roundwood Exports

Exports in ECOWAS

In 2023, approx. X cubic meters of roundwood were exported in ECOWAS; with a decrease of X% on 2022 figures. Over the period under review, exports continue to indicate a perceptible contraction. The most prominent rate of growth was recorded in 2013 when exports increased by X%. The volume of export peaked at X cubic meters in 2016; however, from 2017 to 2023, the exports failed to regain momentum.

In value terms, roundwood exports declined to $X in 2023. In general, exports, however, saw a noticeable expansion. The most prominent rate of growth was recorded in 2013 with an increase of X% against the previous year. The level of export peaked at $X in 2016; however, from 2017 to 2023, the exports stood at a somewhat lower figure.

Exports by Country

In 2023, Sierra Leone (X cubic meters) represented the major exporter of roundwood, achieving X% of total exports. It was distantly followed by Mali (X cubic meters), Liberia (X cubic meters), Ghana (X cubic meters) and Gambia (X cubic meters), together comprising a X% share of total exports. Nigeria (X cubic meters) and Togo (X cubic meters) followed a long way behind the leaders.

From 2012 to 2023, average annual rates of growth with regard to roundwood exports from Sierra Leone stood at X%. At the same time, Mali (X%), Gambia (X%) and Togo (X%) displayed positive paces of growth. Moreover, Mali emerged as the fastest-growing exporter exported in ECOWAS, with a CAGR of X% from 2012-2023. By contrast, Ghana (X%), Nigeria (X%) and Liberia (X%) illustrated a downward trend over the same period. Sierra Leone (X p.p.), Mali (X p.p.), Gambia (X p.p.) and Togo (X p.p.) significantly strengthened its position in terms of the total exports, while Liberia saw its share reduced by X% from 2012 to 2023, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Sierra Leone ($X) remains the largest roundwood supplier in ECOWAS, comprising X% of total exports. The second position in the ranking was held by Mali ($X), with a X% share of total exports. It was followed by Ghana, with a X% share.

From 2012 to 2023, the average annual growth rate of value in Sierra Leone totaled X%. In the other countries, the average annual rates were as follows: Mali (X% per year) and Ghana (X% per year).

Export Prices by Country

The export price in ECOWAS stood at $X per cubic meter in 2023, increasing by X% against the previous year. Over the period from 2012 to 2023, it increased at an average annual rate of X%. The pace of growth appeared the most rapid in 2013 an increase of X% against the previous year. The level of export peaked in 2023 and is likely to see gradual growth in the near future.

There were significant differences in the average prices amongst the major exporting countries. In 2023, 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 2023, the most notable rate of growth in terms of prices was attained by Gambia (X%), while the other leaders experienced more modest paces of growth.

Roundwood Imports

Imports in ECOWAS

Roundwood imports shrank markedly to X cubic meters in 2023, which is down by X% compared with the year before. In general, imports recorded a abrupt decrease. The growth pace was the most rapid in 2014 with an increase of X% against the previous year. Over the period under review, imports attained the peak figure at X cubic meters in 2016; however, from 2017 to 2023, imports failed to regain momentum.

In value terms, roundwood imports declined dramatically to $X in 2023. Over the period under review, imports, however, showed a pronounced increase. The pace of growth appeared the most rapid in 2018 when imports increased by X%. The level of import peaked at $X in 2021; however, from 2022 to 2023, imports remained at a lower figure.

Imports by Country

Nigeria (X cubic meters) and Togo (X cubic meters) represented roughly X% of total imports in 2023. It was distantly followed by Senegal (X cubic meters), creating a X% share of total imports. The following importers - Cabo Verde (X cubic meters), Ghana (X cubic meters) and Gambia (X cubic meters) - together made up X% of total imports.

From 2012 to 2023, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Nigeria (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest roundwood importing markets in ECOWAS were Nigeria ($X), Senegal ($X) and Togo ($X), with a combined X% share of total imports.

In terms of the main importing countries, Nigeria, with a CAGR of X%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2023, the import price in ECOWAS amounted to $X per cubic meter, surging by X% against the previous year. Over the period under review, the import price showed a buoyant expansion. The most prominent rate of growth was recorded in 2018 an increase of X% against the previous year. Over the period under review, import prices attained the maximum in 2023 and is expected to retain growth in the near future.

There were significant differences in the average prices amongst the major importing countries. In 2023, amid the top importers, the country with the highest price was Cabo Verde ($X per cubic meter), while Togo ($X per cubic meter) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Gambia (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform