Western Africa: Industrial Roundwood Market 2024

Industrial Roundwood Market Size in Western Africa

For the third consecutive year, the West African industrial roundwood market recorded growth in sales value, which increased by X% to $X in 2023. Overall, consumption posted a slight increase. The level of consumption peaked in 2023 and is likely to continue growth in the immediate term.

Industrial Roundwood Production in Western Africa

In value terms, industrial roundwood production rose slightly to $X in 2023 estimated in export price. The total output value increased at an average annual rate of X% over the period from 2012 to 2023; the trend pattern remained relatively stable, with only minor fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 when the production volume increased by X% against the previous year. Over the period under review, production reached the peak level in 2023 and is likely to see gradual growth in years to come.

Industrial Roundwood Exports

Exports in Western Africa

In 2023, the amount of industrial roundwood exported in Western Africa fell notably to X cubic meters, waning by X% against 2022. Overall, exports continue to indicate a noticeable setback. The pace of growth was the most pronounced in 2013 with an increase of X%. The volume of export peaked at X cubic meters in 2017; however, from 2018 to 2023, the exports remained at a lower figure.

In value terms, industrial roundwood exports dropped to $X in 2023. In general, exports, however, showed a perceptible increase. The most prominent rate of growth was recorded in 2013 when exports increased by X% against the previous year. The level of export peaked at $X in 2017; however, from 2018 to 2023, the exports remained at a lower figure.

Exports by Country

In 2023, Sierra Leone (X cubic meters) represented the largest exporter of industrial roundwood, making up X% of total exports. Mali (X cubic meters) held the second position in the ranking, followed by Liberia (X cubic meters), Ghana (X cubic meters) and Gambia (X cubic meters). All these countries together took approx. X% share of total exports. The following exporters - Nigeria (X cubic meters) and Togo (X cubic meters) - together made up X% of total exports.

Exports from Sierra Leone increased at an average annual rate of X% from 2012 to 2023. 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 Western Africa, 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. From 2012 to 2023, the share of Sierra Leone, Mali, Gambia and Togo increased by X, X, X and X percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Sierra Leone ($X) remains the largest industrial roundwood supplier in Western Africa, comprising X% of total exports. The second position in the ranking was held by Mali ($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 amounted to X%. The remaining exporting countries recorded the following average annual rates of exports growth: Mali (X% per year) and Ghana (X% per year).

Export Prices by Country

The export price in Western Africa stood at $X per cubic meter in 2023, approximately equating 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 2013 an increase of X%. Over the period under review, the export prices attained the peak figure in 2023 and is likely to see steady growth in the immediate term.

Prices varied noticeably by country of origin: 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.

Industrial Roundwood Imports

Imports in Western Africa

In 2023, supplies from abroad of industrial roundwood decreased by X% to X cubic meters for the first time since 2019, thus ending a three-year rising trend. Overall, imports showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when imports increased by X% against the previous year. The volume of import peaked at X cubic meters in 2022, and then declined remarkably in the following year.

In value terms, industrial roundwood imports dropped notably to $X in 2023. In general, imports, however, enjoyed temperate growth. The pace of growth was the most pronounced in 2018 with an increase of X% against the previous year. The level of import peaked at $X in 2021; however, from 2022 to 2023, imports failed to regain momentum.

Imports by Country

Mauritania represented the major importing country with an import of about X cubic meters, which accounted for X% of total imports. Nigeria (X cubic meters) ranks second in terms of the total imports with a X% share, followed by Togo (X%) and Senegal (X%). Saint Helena, Ascension and Tristan da Cunha (X cubic meters) and Cabo Verde (X cubic meters) took a minor share of total imports.

Imports into Mauritania decreased at an average annual rate of X% from 2012 to 2023. 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 2012-2023. Saint Helena, Ascension and Tristan da Cunha experienced a relatively flat trend pattern. By contrast, Cabo Verde (X%) illustrated a downward trend over the same period. Nigeria (X p.p.), Senegal (X p.p.) and Togo (X p.p.) significantly strengthened its position in terms of the total imports, while Mauritania 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, Nigeria ($X), Mauritania ($X) and Senegal ($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%, recorded the highest growth rate of the value of imports, in terms of 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 Western Africa stood at $X per cubic meter in 2023, picking up by X% against the previous year. Over the period under review, the import price enjoyed a perceptible expansion. The pace of growth appeared the most rapid in 2018 an increase of X% against the previous year. The level of import peaked at $X per cubic meter in 2021; however, from 2022 to 2023, import prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Cabo Verde ($X per cubic meter), while Saint Helena, Ascension and Tristan da Cunha ($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