Western Africa: Coniferous Roundwood Market 2024

Coniferous Roundwood Market Size in Western Africa

The West African coniferous roundwood market contracted markedly to $X in 2023, shrinking by X% against the previous year. Over the period under review, consumption, however, posted a buoyant increase. As a result, consumption reached the peak level of $X. From 2019 to 2023, the growth of the market remained at a somewhat lower figure.

Coniferous Roundwood Production in Western Africa

In value terms, coniferous roundwood production fell rapidly to $X in 2023 estimated in export price. In general, production continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 with an increase of X% against the previous year. The level of production peaked at $X in 2018; however, from 2019 to 2023, production stood at a somewhat lower figure.

Coniferous Roundwood Exports

Exports in Western Africa

In 2023, after two years of growth, there was significant decline in shipments abroad of roundwood (coniferous), when their volume decreased by X% to X cubic meters. Over the period under review, exports, however, enjoyed strong growth. The growth pace was the most rapid in 2017 with an increase of X% against the previous year. As a result, the exports reached the peak of X cubic meters. From 2018 to 2023, the growth of the exports failed to regain momentum.

In value terms, coniferous roundwood exports fell to $X in 2023. Overall, exports, however, recorded buoyant growth. The growth pace was the most rapid in 2017 when exports increased by X% against the previous year. As a result, the exports reached the peak of $X. From 2018 to 2023, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Togo represented the major exporter of roundwood (coniferous) in Western Africa, with the volume of exports amounting to X cubic meters, which was near X% of total exports in 2023. Nigeria (X cubic meters) took the second position in the ranking, followed by Ghana (X cubic meters) and Cote d'Ivoire (X cubic meters). All these countries together took approx. X% share of total exports.

Togo was also the fastest-growing in terms of the roundwood (coniferous) exports, with a CAGR of X% from 2012 to 2023. At the same time, Nigeria (X%) and Ghana (X%) displayed positive paces of growth. By contrast, Cote d'Ivoire (X%) illustrated a downward trend over the same period. While the share of Togo (X p.p.), Nigeria (X p.p.) and Ghana (X p.p.) increased significantly in terms of the total exports from 2012-2023, the share of Cote d'Ivoire (X p.p.) displayed negative dynamics.

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

In Togo, coniferous roundwood exports expanded at an average annual rate of X% over the period from 2012-2023. In the other countries, the average annual rates were as follows: Ghana (X% per year) and Nigeria (X% per year).

Export Prices by Country

The export price in Western Africa stood at $X per cubic meter in 2023, falling by X% against the previous year. Over the period under review, the export price showed a mild contraction. The most prominent rate of growth was recorded in 2018 an increase of X%. The level of export peaked at $X per cubic meter in 2012; however, from 2013 to 2023, the export prices stood at a somewhat lower figure.

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 ($X per cubic meter), while Cote d'Ivoire ($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 a decline in the export price figures.

Coniferous Roundwood Imports

Imports in Western Africa

Coniferous roundwood imports declined dramatically to X cubic meters in 2023, falling by X% on 2022. Overall, imports continue to indicate a abrupt decline. 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 failed to regain momentum.

In value terms, coniferous roundwood imports declined markedly to $X in 2023. In general, imports showed a pronounced decline. The pace of growth was the most pronounced in 2018 when imports increased by X% against the previous year. Over the period under review, imports hit record highs at $X in 2021; however, from 2022 to 2023, imports stood at a somewhat lower figure.

Imports by Country

In 2023, Nigeria (X cubic meters) was the main importer of roundwood (coniferous), constituting X% of total imports. Senegal (X cubic meters) took a X% share (based on physical terms) of total imports, which put it in second place, followed by Saint Helena, Ascension and Tristan da Cunha (X%). The following importers - Ghana (X cubic meters), Mauritania (X cubic meters), Gambia (X cubic meters) and Cabo Verde (X cubic meters) - together made up X% of total imports.

From 2012 to 2023, average annual rates of growth with regard to coniferous roundwood imports into Nigeria stood at X%. At the same time, Gambia (X%) and Senegal (X%) displayed positive paces of growth. Moreover, Gambia emerged as the fastest-growing importer imported in Western Africa, with a CAGR of X% from 2012-2023. Cabo Verde experienced a relatively flat trend pattern. By contrast, Saint Helena, Ascension and Tristan da Cunha (X%), Mauritania (X%) and Ghana (X%) illustrated a downward trend over the same period. From 2012 to 2023, the share of Nigeria, Senegal and Gambia increased by X, X and X percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

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

From 2012 to 2023, the average annual rate of growth in terms of value in Nigeria amounted to X%. The remaining importing countries recorded the following average annual rates of imports growth: Senegal (X% per year) and Gambia (X% per year).

Import Prices by Country

In 2023, the import price in Western Africa amounted to $X per cubic meter, waning by X% against the previous year. Import price indicated a tangible increase from 2012 to 2023: its price increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2021 when the import price increased by X% against the previous year. Over the period under review, import prices reached the maximum at $X per cubic meter in 2022, and then contracted slightly in the following year.

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 Gambia (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform