ECOWAS: Coniferous Roundwood Market 2024

Coniferous Roundwood Market Size in ECOWAS

For the third consecutive year, the ECOWAS coniferous roundwood market recorded growth in sales value, which increased by X% to $X in 2022. Overall, consumption, however, posted a strong increase. The level of consumption peaked in 2022 and is likely to continue growth in years to come.

Coniferous Roundwood Production in ECOWAS

In value terms, coniferous roundwood production reduced to $X in 2022 estimated in export price. In general, production, however, saw buoyant growth. The growth pace was the most rapid in 2017 with an increase of X% against the previous year. The level of production peaked at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

Coniferous Roundwood Exports

Exports in ECOWAS

After two years of decline, shipments abroad of roundwood (coniferous) increased by X% to X cubic meters in 2022. Over the period under review, exports recorded buoyant growth. The most prominent rate of growth was recorded 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 2022, the growth of the exports remained at a lower figure.

In value terms, coniferous roundwood exports soared to $X in 2022. Overall, exports recorded buoyant growth. The most prominent rate of growth was recorded in 2017 with an increase of X% against the previous year. As a result, the exports attained the peak of $X. From 2018 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

Togo represented the largest exporter of roundwood (coniferous) in ECOWAS, with the volume of exports recording X cubic meters, which was approx. X% of total exports in 2022. Ghana (X cubic meters) held the second position in the ranking, distantly followed by Nigeria (X cubic meters), Cote d'Ivoire (X cubic meters) and Benin (X cubic meters). All these countries together held approx. X% share of total exports. Liberia (X cubic meters) followed a long way behind the leaders.

Togo was also the fastest-growing in terms of the roundwood (coniferous) exports, with a CAGR of X% from 2012 to 2022. At the same time, Benin (X%), Ghana (X%), Liberia (X%) and Nigeria (X%) displayed positive paces of growth. By contrast, Cote d'Ivoire (X%) illustrated a downward trend over the same period. Togo (X p.p.), Ghana (X p.p.) and Benin (X p.p.) significantly strengthened its position in terms of the total exports, while Nigeria and Cote d'Ivoire saw its share reduced by X% and X% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

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

From 2012 to 2022, the average annual growth rate of value in Togo amounted to X%. 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 ECOWAS stood at $X per cubic meter in 2022, rising by X% against the previous year. Over the period under review, the export price, however, saw a noticeable decline. The pace of growth appeared the most rapid in 2018 when the export price increased by X%. Over the period under review, the export prices reached the maximum at $X per cubic meter in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Liberia ($X per cubic meter), while Cote d'Ivoire ($X per cubic meter) was amongst the lowest.

From 2012 to 2022, 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.

Coniferous Roundwood Imports

Imports in ECOWAS

In 2022, imports of roundwood (coniferous) in ECOWAS declined dramatically to X cubic meters, waning by X% compared with the previous year's figure. Overall, imports, however, showed prominent growth. 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 2022, the growth of imports failed to regain momentum.

In value terms, coniferous roundwood imports surged to $X in 2022. In general, imports, however, saw a significant expansion. The pace of growth appeared the most rapid in 2018 when imports increased by X% against the previous year. Over the period under review, imports hit record highs in 2022 and are likely to see gradual growth in the near future.

Imports by Country

Nigeria (X cubic meters) and Togo (X cubic meters) dominates imports structure, together creating X% of total imports. It was distantly followed by Ghana (X cubic meters), mixing up a X% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Nigeria (with a CAGR of X%), while imports for the other leaders experienced mixed trends in the imports figures.

In value terms, Nigeria ($X) constitutes the largest market for imported roundwood (coniferous) in ECOWAS, comprising X% of total imports. The second position in the ranking was held by Togo ($X), with an X% share of total imports.

In Nigeria, coniferous roundwood imports increased at an average annual rate of X% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Togo (X% per year) and Ghana (X% per year).

Import Prices by Country

The import price in ECOWAS stood at $X per cubic meter in 2022, picking up by X% against the previous year. Over the period under review, the import price saw resilient growth. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Nigeria ($X per cubic meter), while Ghana ($X per cubic meter) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Nigeria (X%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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