Ghana’s export of timber and wood products generated €31,256,035.35 from a total exported volume of 68,965.620 m³ during the second quarter (April to June) of 2024, according to the Forestry Commission.

However, this figure reflects a decrease of 15.27% in value and 15.34% in volume compared to the previous year, where exports totaled €36,890,952.87 from 81,462.698 m³ in the same quarter of 2023.

Despite the overall decline in both value and volume, the timber sector remains a crucial contributor to Ghana’s economy, showcasing its significance in international trade. The second quarter of 2024 recorded a total of 115 exporters engaged in the timber trade.

Among these, the top five exporters were Samartex Timber and Plywood Company Limited, Logs and Lumber Limited, Multimodal Freight Services Limited, John Bitar and Company Limited, and 3RDI Shipping Agency Limited. Together, they exported 13 different wood products across 64 species to 52 countries, reaching a total of 162 diverse buyers.

The top five products exported during this period included lumber (air-dried), lumber (kiln-dried), plywood, and billets, indicating a healthy demand for these materials. In terms of species, the leading varieties felled were teak, wawa, ceiba, eucalyptus, and denya.

Ghana’s timber exports also found their way to various global destinations, with the top five markets being India, Senegal, the United States of America, Germany, and Togo. Notably, the leading buyers during this period included Thai Phat International Company Limited, Shanghai Timber Furnishing Company Limited, Shree Sagar General Trading FZE, Miro Forestry Developments Limited, and Aron Global PTE Limited, reflecting the diverse international partnerships established by Ghanaian exporters.

Interestingly, while the overall average unit price of timber increased slightly from €452.86/m³ in Q2 2023 to €453.21/m³ in Q2 2024 (an increase of 0.08%), the exports to ECOWAS countries experienced a significant downturn.

Ghana generated €1,702,426.33 from timber exports to ECOWAS nations in Q2 2024, a stark contrast to the €3,038,606.66 earned during the same period in 2023, when export volumes were significantly higher at 7,906.619 m³.

The average unit price for timber and wood products sold to ECOWAS countries also declined from €384.31/m³ in Q2 2023 to €354.31/m³ in Q2 2024.

The decline in timber exports reflects changing market dynamics and potentially increasing competition from other timber-exporting countries. However, the diversification of export destinations and ongoing engagement in both global and regional markets demonstrate Ghana’s resilience in the timber sector.

The ECOWAS market continues to play an essential role in Ghana’s timber industry, with exports to countries like Togo, Senegal, Burkina Faso, and Niger indicating varying levels of demand.

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