ECOWAS: Market for Saw Logs And Veneer Logs 2024

Market Size for Saw Logs And Veneer Logs in ECOWAS

The ECOWAS market for saw logs and veneer logs skyrocketed to $X in 2023, increasing by X% against the previous year. Overall, consumption, however, recorded significant growth. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Production of Saw Logs And Veneer Logs in ECOWAS

In value terms, saw logs and veneer logs production rose remarkably to $X in 2023 estimated in export price. Overall, production showed a relatively flat trend pattern. The growth pace was the most rapid in 2021 when the production volume increased by X%. Over the period under review, production attained the peak level at $X in 2015; however, from 2016 to 2023, production failed to regain momentum.

Exports of Saw Logs And Veneer Logs

Exports in ECOWAS

In 2023, approx. X cubic meters of saw logs and veneer logs were exported in ECOWAS; with a decrease of X% against 2022 figures. In general, exports saw a pronounced slump. The most prominent rate of growth was recorded in 2014 when exports increased by X%. The volume of export peaked at X cubic meters in 2017; however, from 2018 to 2023, the exports failed to regain momentum.

In value terms, saw logs and veneer logs exports shrank to $X in 2023. Over the period under review, exports showed a relatively flat trend pattern. The growth pace was the most rapid in 2014 when exports increased by X% against the previous year. Over the period under review, the exports reached the maximum at $X in 2017; however, from 2018 to 2023, the exports remained at a lower figure.

Exports by Country

Sierra Leone represented the main exporter of saw logs and veneer logs in ECOWAS, with the volume of exports accounting for X cubic meters, which was approx. X% of total exports in 2023. Mali (X cubic meters) held a X% share (based on physical terms) of total exports, which put it in second place, followed by Liberia (X%), Gambia (X%) and Ghana (X%). Guinea (X cubic meters) and Nigeria (X cubic meters) held a relatively small share of total exports.

From 2012 to 2023, average annual rates of growth with regard to saw logs and veneer logs exports from Sierra Leone stood at X%. At the same time, Mali (X%), Ghana (X%) and Guinea (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, Liberia (X%), Nigeria (X%) and Gambia (X%) illustrated a downward trend over the same period. Sierra Leone (X p.p.), Mali (X p.p.), Ghana (X p.p.) and Guinea (X p.p.) significantly strengthened its position in terms of the total exports, while Nigeria, Liberia and Gambia saw its share reduced by X%, X% and X% from 2012 to 2023, respectively.

In value terms, Sierra Leone ($X) remains the largest saw logs and veneer logs supplier in ECOWAS, comprising X% of total exports. The second position in the ranking was taken by Mali ($X), with a X% share of total exports. It was followed by Gambia, with a X% share.

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

Export Prices by Country

The export price in ECOWAS stood at $X per cubic meter in 2023, with an increase of X% against the previous year. Over the period from 2012 to 2023, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2014 an increase of X% against the previous year. The level of export peaked in 2023 and is likely to continue growth in years to come.

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

Imports of Saw Logs And Veneer Logs

Imports in ECOWAS

In 2023, approx. X cubic meters of saw logs and veneer logs were imported in ECOWAS; with a decrease of X% against the previous year's figure. Overall, imports continue to indicate a perceptible reduction. The most prominent rate of growth was recorded in 2018 when imports increased by X% against the previous year. As a result, imports attained the peak of X cubic meters. From 2019 to 2023, the growth of imports remained at a somewhat lower figure.

In value terms, saw logs and veneer logs imports dropped sharply to $X in 2023. In general, imports, however, continue to indicate a mild increase. The pace of growth appeared the most rapid in 2018 with an increase of 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 Senegal (X cubic meters) were the key importers of saw logs and veneer logs in 2023, finishing at approx. X% and X% of total imports, respectively. Togo (X cubic meters) held a X% share (based on physical terms) of total imports, which put it in second place, followed by Cabo Verde (X%). Ghana (X cubic meters), Gambia (X cubic meters) and Guinea (X cubic meters) held a minor share of total imports.

From 2012 to 2023, the most notable rate of growth in terms of purchases, amongst the leading 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, Senegal ($X), Nigeria ($X) and Cabo Verde ($X) appeared to be the countries with the highest levels of imports in 2023, with a combined X% share of total imports.

Nigeria, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in ECOWAS stood at $X per cubic meter in 2023, jumping by X% against the previous year. Overall, the import price continues to indicate a strong increase. The most prominent rate of growth was recorded in 2021 when the import price increased by X% against the previous year. Over the period under review, import prices hit record highs in 2023 and is expected to retain growth in the near future.

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

Source: IndexBox Platform