Western Africa: Market for Saw Logs And Veneer Logs (Non-Coniferous) 2024

Market Size for Saw Logs And Veneer Logs (Non-Coniferous) in Western Africa

In 2023, the West African market for saw logs and veneer logs (non-coniferous) increased by X% to $X, rising for the third consecutive year after two years of decline. Over the period under review, consumption, however, saw a relatively flat trend pattern. The level of consumption peaked in 2023 and is expected to retain growth in the immediate term.

Production of Saw Logs And Veneer Logs (Non-Coniferous) in Western Africa

In value terms, production of saw logs and veneer logs (non-coniferous) rose sharply to $X in 2023 estimated in export price. Overall, production saw a abrupt contraction. The pace of growth was the most pronounced in 2021 when the production volume increased by X%. The level of production peaked at $X in 2012; however, from 2013 to 2023, production remained at a lower figure.

Exports of Saw Logs And Veneer Logs (Non-Coniferous)

Exports in Western Africa

In 2023, approx. X cubic meters of saw logs and veneer logs (non-coniferous) were exported in Western Africa; shrinking by X% compared with 2022 figures. In general, exports continue to indicate a pronounced contraction. The most prominent rate of growth was recorded in 2014 with an increase of 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, exports of saw logs and veneer logs (non-coniferous) shrank to $X in 2023. Overall, exports recorded a relatively flat trend pattern. The growth pace was the most rapid in 2014 when exports increased by X%. The level of export peaked at $X in 2017; however, from 2018 to 2023, the exports failed to regain momentum.

Exports by Country

In 2023, Sierra Leone (X cubic meters) was the largest exporter of saw logs and veneer logs (non-coniferous), constituting X% of total exports. 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) followed a long way behind the leaders.

From 2012 to 2023, average annual rates of growth with regard to saw logs and veneer logs (non-coniferous) 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 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. From 2012 to 2023, the share of Sierra Leone, Mali, Ghana and Guinea increased by X, X, X and X percentage points, respectively.

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

From 2012 to 2023, the average annual rate of growth in terms of value in Sierra Leone totaled 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

In 2023, the export price in Western Africa amounted to $X per cubic meter, picking up by X% against the previous year. Over the period from 2012 to 2023, it increased at an average annual rate of X%. The pace of growth was the most pronounced in 2014 when the export price increased by X%. The level of export peaked in 2023 and is likely to continue growth in the immediate term.

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 (Non-Coniferous)

Imports in Western Africa

In 2023, purchases abroad of saw logs and veneer logs (non-coniferous) decreased by X% to X cubic meters for the first time since 2020, thus ending a two-year rising trend. Overall, imports recorded a perceptible decline. The most prominent rate of growth was recorded in 2022 when imports increased by X%. The volume of import peaked at X cubic meters in 2013; however, from 2014 to 2023, imports remained at a lower figure.

In value terms, imports of saw logs and veneer logs (non-coniferous) declined notably to $X in 2023. Over the period under review, imports continue to indicate a mild downturn. The most prominent rate of growth was recorded in 2021 when imports increased by X% against the previous year. Over the period under review, imports of attained the peak figure at $X in 2022, and then shrank rapidly in the following year.

Imports by Country

Mauritania prevails in (non-coniferous) structure, amounting to X cubic meters, which was approx. X% of total imports in 2023. Senegal (X cubic meters) ranks second in terms of the total imports with an X% share, followed by Togo (X%). Cabo Verde (X cubic meters) took a little share of total imports.

From 2012 to 2023, average annual rates of growth with regard to saw logs and veneer logs (non-coniferous) imports into Mauritania stood at X%. At the same time, Togo (X%) displayed positive paces of growth. Moreover, Togo 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. While the share of Togo (X p.p.) and Senegal (X p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest saw logs and veneer logs (non-coniferous) importing markets in Western Africa were Mauritania ($X), Senegal ($X) and Togo ($X), together comprising X% of total imports.

Among the main importing countries, Togo, 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, with an increase of X% against the previous year. In general, the import price saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 when the import price increased by X% against the previous year. As a result, import price reached the peak level of $X per cubic meter. From 2022 to 2023, the import prices remained at a 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 ($X per cubic meter), while Mauritania ($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