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 expanded notably to $X in 2023, surging by X% against the previous year. The total consumption indicated a prominent expansion from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, consumption decreased by X% against 2021 indices. The level of consumption peaked at $X in 2021; however, from 2022 to 2023, consumption failed to regain momentum.

Production of Saw Logs And Veneer Logs in Western Africa

In value terms, saw logs and veneer logs production expanded notably to $X in 2023 estimated in export price. In general, production continues to indicate a deep setback. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. 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

Exports in Western Africa

Saw logs and veneer logs exports reduced to X cubic meters in 2023, which is down by X% compared with 2022 figures. In general, exports saw a noticeable shrinkage. The pace of growth was the most pronounced in 2014 when exports increased by X% against the previous year. Over the period under review, the exports reached the peak figure 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 declined to $X in 2023. Over the period under review, exports saw a relatively flat trend pattern. 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 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) was the largest exporter of saw logs and veneer logs, creating 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) followed a long way behind the leaders.

From 2012 to 2023, average annual rates of growth with regard to saw logs and veneer logs 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 ($X) remains the largest saw logs and veneer logs supplier in Western Africa, comprising X% of total exports. The second position in the ranking was held by Mali ($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. 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, with an increase of 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 appeared the most rapid in 2014 an increase of X%. Over the period under review, the export prices hit record highs in 2023 and is likely to see gradual 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

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. In general, imports continue to indicate a perceptible setback. The most prominent rate of growth was recorded in 2018 with an increase of X% against the previous year. As a result, imports reached 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 contracted rapidly to $X in 2023. Over the period under review, imports showed a slight curtailment. The most prominent rate of growth was recorded in 2021 when imports increased by X%. As a result, imports attained the peak of $X. From 2022 to 2023, the growth of imports remained at a lower figure.

Imports by Country

In 2023, Mauritania (X cubic meters) was the major importer of saw logs and veneer logs, making up X% of total imports. Senegal (X cubic meters) took the second position in the ranking, followed by Nigeria (X cubic meters). All these countries together held near X% share of total imports. Togo (X cubic meters), Cabo Verde (X cubic meters), Saint Helena, Ascension and Tristan da Cunha (X cubic meters) and Ghana (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 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%), Ghana (X%) and Togo (X%) illustrated a downward trend over the same period. From 2012 to 2023, the share of Mauritania, Nigeria and Senegal 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, the largest saw logs and veneer logs importing markets in Western Africa were Mauritania ($X), Senegal ($X) and Nigeria ($X), with a combined X% share of total imports.

Among the main importing countries, Nigeria, with a CAGR of X%, recorded the highest growth rate of 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, rising 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. Based on 2023 figures, saw logs and veneer logs import price decreased by X% against 2021 indices. The pace of growth appeared the most rapid in 2021 an increase of 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 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