Western Africa: Wood Flat Pallet Market 2024

Wood Flat Pallet Market Size in Western Africa

After two years of growth, the West African wood flat pallet market decreased by X% to $X in 2023. Overall, consumption recorded a relatively flat trend pattern. As a result, consumption attained the peak level of $X. From 2019 to 2023, the growth of the market remained at a somewhat lower figure.

Wood Flat Pallet Production in Western Africa

In value terms, wood flat pallet production declined modestly to $X in 2023 estimated in export price. Overall, production showed a relatively flat trend pattern. The growth pace was the most rapid in 2018 with an increase of X% against the previous year. As a result, production attained the peak level of $X. From 2019 to 2023, production growth remained at a somewhat lower figure.

Wood Flat Pallet Exports

Exports in Western Africa

Wood flat pallet exports shrank rapidly to X units in 2023, falling by X% compared with 2022 figures. Overall, exports, however, posted a prominent expansion. The most prominent rate of growth was recorded in 2014 with an increase of X% against the previous year. Over the period under review, the exports hit record highs at X units in 2018; however, from 2019 to 2023, the exports failed to regain momentum.

In value terms, wood flat pallet exports soared to $X in 2023. In general, exports, however, saw a measured increase. The pace of growth appeared the most rapid in 2014 when exports increased by X%. The level of export peaked at $X in 2019; however, from 2020 to 2023, the exports remained at a lower figure.

Exports by Country

Togo was the largest exporting country with an export of around X units, which amounted to X% of total exports. It was distantly followed by Senegal (X units), mixing up a X% share of total exports. Ghana (X units), Benin (X units) and Sierra Leone (X units) held a relatively small share of total exports.

Togo was also the fastest-growing in terms of the flat pallets and pallet collars of wood exports, with a CAGR of X% from 2012 to 2023. At the same time, Senegal (X%) displayed positive paces of growth. By contrast, Ghana (X%), Sierra Leone (X%) and Benin (X%) illustrated a downward trend over the same period. From 2012 to 2023, the share of Togo, Senegal, Benin and Sierra Leone increased by X, X, X and X percentage points, respectively.

In value terms, Senegal ($X), Togo ($X) and Ghana ($X) appeared to be the countries with the highest levels of exports in 2023, together accounting for X% of total exports.

Senegal, with a CAGR of X%, saw the highest rates of growth with regard to the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2023, the export price in Western Africa amounted to $X per unit, picking up by X% against the previous year. Overall, the export price, however, recorded a perceptible contraction. Over the period under review, the export prices reached the peak figure at $X per unit in 2019; however, from 2020 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 Sierra Leone ($X per unit), while Togo ($X per unit) 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.

Wood Flat Pallet Imports

Imports in Western Africa

In 2023, after two years of decline, there was significant growth in supplies from abroad of flat pallets and pallet collars of wood, when their volume increased by X% to X units. In general, imports continue to indicate a tangible expansion. The pace of growth appeared the most rapid in 2020 with an increase of X% against the previous year. As a result, imports attained the peak of X units. From 2021 to 2023, the growth of imports failed to regain momentum.

In value terms, wood flat pallet imports surged to $X in 2023. Overall, imports posted a resilient increase. The pace of growth appeared the most rapid in 2020 with an increase of X% against the previous year. As a result, imports reached the peak of $X. From 2021 to 2023, the growth of imports failed to regain momentum.

Imports by Country

In 2023, Senegal (X units) represented the largest importer of flat pallets and pallet collars of wood, committing X% of total imports. Ghana (X units) took a X% share (based on physical terms) of total imports, which put it in second place, followed by Nigeria (X%), Guinea (X%), Burkina Faso (X%), Togo (X%) and Mauritania (X%).

From 2012 to 2023, the biggest increases were recorded for Togo (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Senegal ($X), Ghana ($X) and Nigeria ($X) constituted the countries with the highest levels of imports in 2023, together accounting for X% of total imports. Guinea, Burkina Faso, Togo and Mauritania lagged somewhat behind, together accounting for a further X%.

Togo, with a CAGR of X%, recorded 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 Western Africa stood at $X per unit in 2023, which is down by X% against the previous year. Over the period under review, the import price, however, posted moderate growth. The pace of growth was the most pronounced in 2022 an increase of X% against the previous year. As a result, import price attained the peak level of $X per unit, and then contracted notably in the following year.

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 Ghana ($X per unit), while Mauritania ($X per unit) was amongst the lowest.

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

Source: IndexBox Platform