Ghana's timber and wood product exports to the Asia/Far East, Europe, Africa, America, and the Middle East markets recorded both gains and declines in June 2024.

The performance was marked by notable decreases in both value and volume compared to June 2023. Here are the top 5 destinations for the country's timber and wood products.

IndiaIndia remains Ghana's largest market for timber exports, particularly for Teak logs and Boules. The country imported significant volumes of timber, driving demand for primary wood products.

VietnamVietnam is another key destination, purchasing large quantities of processed timber products like Kiln Dried Lumber and Veneer, vital for the country’s burgeoning furniture industry.

NigerAs one of Ghana's biggest African trade partners for timber, Niger imports vast amounts of wood products, including Plywood and Air Dried Lumber, which are essential for construction and infrastructure development.

BelgiumBelgium represents one of Europe’s primary importers of Ghana’s timber products, especially Kiln Dried Lumber and processed wood, used in the manufacturing of high-end furniture and construction.

United StatesThe U.S. market, showing steady growth, imports specialized wood products such as Mouldings and Kiln Dried Lumber, contributing to a significant portion of Ghana's tertiary wood product exports.

Here’s a breakdown of the export figures across the various regions.

Asia/Far East: Leading Destination

The Asia/Far East region remained the largest market for Ghana’s timber exports in June 2024, bringing in €33,126,566.11, accounting for 54.68% of total export revenue. A total of 85,070.301 cubic meters of timber (63.90% of the volume) was shipped to this region. Despite its lead position, the market experienced a 12.28% drop in value and a 12.79% decline in volume compared to June 2023, when the region contributed €37,766,006.11 from 97,543.488 cubic meters. The products exported included Lumber (Air Dried), Billet, Teak Logs, Lumber (Kiln Dried), Sliced Veneer, and Processed L/Mouldings, with key species like Teak, Papao, Denya, Wawa, and Cedrela.

Europe: Second-Largest Market

Exports to Europe generated €13,084,226.34 (21.60%) from 20,961.021 cubic meters (15.75%) of timber, making it the second-largest destination for Ghana's wood products in June 2024. However, compared to June 2023, the European market witnessed a significant decline, with a 20.71% decrease in value and a 17.56% drop in volume. In June 2023, exports to Europe stood at €16,500,761.05 from 25,425.897 cubic meters. The European market primarily imported Boules (Air and Kiln Dried), Briquettes, Lumber (Air and Kiln Dried), Plywood, Veneers, and Processed L/Mouldings, with species like Wawa, Niangon, Ceiba, Odum, and Sapele.

Africa: ECOWAS Sub-Region Leading

The African market brought in €5,415,246.66 (8.94%) from 13,175.392 cubic meters (9.90%) of timber exports in June 2024. This represented a sharp decrease of 25.76% in value and 26.75% in volume compared to June 2023, when €7,294,120.74 was earned from 17,986.965 cubic meters. The ECOWAS sub-region dominated the African market, accounting for €3,849,751.90 (71.09%) of the total, from 10,277.141 cubic meters (78.00%). Key destinations within Africa included Egypt, Morocco, Benin, South Africa, and Mozambique. Popular products included Lumber (Air and Kiln Dried), Plywood (Overland), Rotary Veneer, and Sliced Veneer.

America: Growth in Value and Volume

The American market showed positive growth in June 2024, generating €5,589,609.13 (9.23%) from 7,168.660 cubic meters (5.38%) of wood exports. This marked a 9.72% increase in value and a 10.19% rise in volume compared to June 2023, when the market recorded €5,094,409.11 from 6,505.824 cubic meters. The U.S. and other American destinations primarily imported Lumber (Kiln Dried), Plywood, Processed L/Mouldings, Rotary Veneer, and Sliced Veneer, with species like Mahogany, Cedrela, Sapele, Eucalyptus, and Black Ofram being the most sought after.

Middle East: Fifth-Largest Market

Timber exports to the Middle East amounted to €3,342,407.14 (5.52%) from 6,712.262 cubic meters (5.04%) in June 2024. This marked a 12.79% decrease in value and a 15.22% decline in volume compared to June 2023, when €3,832,786.92 was earned from 7,917.551 cubic meters. The Middle East imported Lumber (Air and Kiln Dried), Plywood, Rotary Veneer, and Sliced Veneer, with key species including Denya, Eucalyptus, Wawa, Teak, and Odum.