Western Africa: Market for Saw Logs And Veneer Logs 2024

Market Size for Saw Logs And Veneer Logs in Western Africa

The West African market for saw logs and veneer logs soared to $X in 2023, rising by X% against the previous year. Over the period under review, consumption, however, showed a significant expansion. 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 Western Africa

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 pace of growth was the most pronounced in 2021 with an increase of X%. Over the period under review, production attained the maximum level at $X in 2015; however, from 2016 to 2023, production failed to regain momentum.

Exports of Saw Logs And Veneer Logs

Exports in Western Africa

Saw logs and veneer logs exports shrank to X cubic meters in 2023, with a decrease of X% against 2022. Over the period under review, exports recorded a perceptible slump. The most prominent rate of growth was recorded in 2014 when exports increased by X%. Over the period under review, the exports hit record highs at X cubic meters in 2017; however, from 2018 to 2023, the exports remained at a lower figure.

In value terms, saw logs and veneer logs exports reduced to $X in 2023. Overall, exports showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 with an increase of X% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2017; however, from 2018 to 2023, the exports stood at a somewhat lower figure.

Exports by Country

In 2023, Sierra Leone (X cubic meters) represented the largest exporter of saw logs and veneer logs, comprising X% of total exports. Mali (X cubic meters) ranks second in terms of the total exports with a X% share, 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.

Exports from Sierra Leone increased at an average annual rate of X% from 2012 to 2023. 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 Western Africa, 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. While the share of Sierra Leone (X p.p.), Mali (X p.p.), Ghana (X p.p.) and Guinea (X p.p.) increased significantly in terms of the total exports from 2012-2023, the share of Nigeria (X p.p.), Liberia (X p.p.) and Gambia (X p.p.) displayed negative dynamics.

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

In Sierra Leone, saw logs and veneer logs exports expanded at an average annual rate of X% over the period from 2012-2023. The remaining exporting countries recorded the following average annual rates of exports growth: Mali (X% per year) and Gambia (X% per year).

Export Prices by Country

The export price in Western Africa stood at $X per cubic meter in 2023, rising by X% against the previous year. Over the last eleven years, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2014 when the export price increased by X% against the previous year. Over the period under review, the export 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 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 Western Africa

After two years of growth, overseas purchases of saw logs and veneer logs decreased by X% to X cubic meters in 2023. Over the period under review, imports continue to indicate a noticeable decrease. 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 shrank notably to $X in 2023. Overall, imports continue to indicate a mild decrease. The most prominent rate of growth was recorded in 2021 when imports increased by X% against the previous year. As a result, imports attained the peak of $X. From 2022 to 2023, the growth of imports failed to regain momentum.

Imports by Country

Mauritania was the main importer of saw logs and veneer logs in Western Africa, with the volume of imports accounting for X cubic meters, which was approx. X% of total imports in 2023. Nigeria (X cubic meters) took the second position in the ranking, followed by Senegal (X cubic meters). All these countries together took near X% share of total imports. The following importers - Togo (X cubic meters), Cabo Verde (X cubic meters) and Saint Helena, Ascension and Tristan da Cunha (X cubic meters) - together made up X% of total imports.

From 2012 to 2023, average annual rates of growth with regard to saw logs and veneer logs imports into Mauritania stood at X%. At the same time, Nigeria (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. Senegal and Cabo Verde experienced a relatively flat trend pattern. By contrast, Saint Helena, Ascension and Tristan da Cunha (X%) and Togo (X%) illustrated a downward trend over the same period. Nigeria (X p.p.), Senegal (X p.p.) and Mauritania (X p.p.) significantly strengthened its position in terms of the total imports, while Saint Helena, Ascension and Tristan da Cunha and Togo saw its share reduced by X% and X% from 2012 to 2023, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Mauritania ($X), Senegal ($X) and Nigeria ($X) were the countries with the highest levels of imports in 2023, together accounting for X% of total imports.

Among the main importing countries, Nigeria, with a CAGR of X%, recorded the highest rates of growth with regard to 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 Western Africa amounted to $X per cubic meter, reducing by X% against the previous year. Import price indicated a slight expansion 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. Based on 2023 figures, saw logs and veneer logs import price decreased by X% against 2021 indices. The growth pace was the most rapid in 2021 an increase of X% against the previous year. As a result, import price attained the peak level of $X per cubic meter. From 2022 to 2023, the import prices remained at a somewhat lower figure.

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 ($X per cubic meter), while Saint Helena, Ascension and Tristan da Cunha ($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