Africa: Wood Tool Market 2024

Wood Tool Market Size in Africa

The African wood tool market reduced modestly to $X in 2023, falling 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-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, consumption increased by X% against 2015 indices. Over the period under review, the market hit record highs at $X in 2022, and then dropped modestly in the following year.

Wood Tool Production in Africa

In value terms, wood tool production dropped modestly to $X in 2023 estimated in export price. The total production indicated a strong expansion from 2012 to 2023: its value 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, production decreased by X% against 2020 indices. The growth pace was the most rapid in 2020 when the production volume increased by X%. As a result, production attained the peak level of $X. From 2021 to 2023, production growth remained at a lower figure.

Wood Tool Exports

Exports in Africa

In 2023, shipments abroad of tools of wood increased by X% to X tons, rising for the third year in a row after two years of decline. In general, exports, however, continue to indicate a mild decrease. The most prominent rate of growth was recorded in 2018 with an increase of X%. As a result, the exports reached the peak of X tons. From 2019 to 2023, the growth of the exports remained at a lower figure.

In value terms, wood tool exports skyrocketed to $X in 2023. Over the period under review, exports showed a perceptible increase. The pace of growth was the most pronounced in 2018 with an increase of X%. As a result, the exports reached the peak of $X. From 2019 to 2023, the growth of the exports remained at a somewhat lower figure.

Exports by Country

South Africa (X tons) and Ghana (X tons) represented the major exporters of tools of wood in 2023, recording approx. X% and X% of total exports, respectively. It was distantly followed by Tanzania (X tons), Cote d'Ivoire (X tons) and Egypt (X tons), together generating a X% share of total exports. The following exporters - Morocco (X tons) and Libya (X tons) - together made up X% of total exports.

From 2012 to 2023, the biggest increases were recorded for Tanzania (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest wood tool supplying countries in Africa were Morocco ($X), South Africa ($X) and Egypt ($X), with a combined X% share of total exports. Ghana, Libya, Cote d'Ivoire and Tanzania lagged somewhat behind, together accounting for a further X%.

Tanzania, with a CAGR of X%, saw the highest rates of growth with regard to the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in Africa stood at $X per ton in 2023, picking up by X% against the previous year. Export price indicated a notable expansion from 2012 to 2023: its price 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, wood tool export price increased by X% against 2020 indices. The growth pace was the most rapid in 2013 an increase of X% against the previous year. Over the period under review, the export prices attained the peak figure at $X per ton in 2016; however, from 2017 to 2023, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Morocco ($X per ton), while Tanzania ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Morocco (X%), while the other leaders experienced more modest paces of growth.

Wood Tool Imports

Imports in Africa

In 2023, wood tool imports in Africa contracted to X tons, dropping by X% against 2022 figures. Total imports indicated a moderate increase from 2012 to 2023: its volume 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, imports increased by X% against 2021 indices. The pace of growth was the most pronounced in 2013 with an increase of X% against the previous year. Over the period under review, imports hit record highs at X tons in 2016; however, from 2017 to 2023, imports remained at a lower figure.

In value terms, wood tool imports shrank markedly to $X in 2023. Total imports indicated a strong 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, imports increased by X% against 2021 indices. The pace of growth was the most pronounced in 2013 with an increase of X%. Over the period under review, imports attained the peak figure at $X in 2022, and then dropped sharply in the following year.

Imports by Country

Morocco (X tons) and South Africa (X tons) were the key importers of tools of wood in 2023, accounting for approx. X% and X% of total imports, respectively. It was distantly followed by Egypt (X tons), Libya (X tons), Tunisia (X tons), Ghana (X tons), Kenya (X tons), Algeria (X tons) and Nigeria (X tons), together making up a X% share of total imports.

From 2012 to 2023, the biggest increases were recorded for Ghana (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest wood tool importing markets in Africa were Egypt ($X), Libya ($X) and Morocco ($X), together accounting for X% of total imports. South Africa, Algeria, Tunisia, Kenya, Nigeria and Ghana lagged somewhat behind, together comprising a further X%.

In terms of the main importing countries, Kenya, 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 Africa amounted to $X per ton, dropping by X% against the previous year. Import price indicated a pronounced expansion 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, wood tool import price decreased by X% against 2021 indices. The most prominent rate of growth was recorded in 2021 an increase of X% against the previous year. As a result, import price reached the peak level of $X per ton. From 2022 to 2023, the import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Egypt ($X per ton), while South Africa ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Libya (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform