Overview of the Market for Saw Logs And Veneer Logs (Non-Coniferous) in Uganda
Market Overview
In 2019, the Ugandan market for saw logs and veneer logs (non-coniferous) decreased by -
% to $, falling for the second consecutive year after six years of growth. In general, consumption saw a buoyant expansion. The pace of growth appeared the most rapid in 2013 when the market value increased by % year-to-year. Consumption peaked at $ in 2017; however, from 2018 to 2019, consumption remained at a lower figure.
In value terms, production of saw logs and veneer logs (non-coniferous) dropped sharply to $ in 2019 estimated in export prices. Overall, production continues to indicate a strong expansion. The pace of growth appeared the most rapid in 2013 when the production volume increased by % y-o-y. Production peaked at $ in 2017; however, from 2018 to 2019, production stood at a somewhat lower figure.
% to $, falling for the second consecutive year after six years of growth. In general, consumption saw a buoyant expansion. The pace of growth appeared the most rapid in 2013 when the market value increased by % year-to-year. Consumption peaked at $ in 2017; however, from 2018 to 2019, consumption remained at a lower figure.In value terms, production of saw logs and veneer logs (non-coniferous) dropped sharply to $
in 2019 estimated in export prices. Overall, production continues to indicate a strong expansion. The pace of growth appeared the most rapid in 2013 when the production volume increased by % y-o-y. Production peaked at $ in 2017; however, from 2018 to 2019, production stood at a somewhat lower figure.Consumption
In 2019, the amount of saw logs and veneer logs (non-coniferous) consumed in Uganda rose to cubic meters, with an increase of % compared with the year before. The total consumption volume increased at an average annual rate of +% over the period from 2007 to 2019; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2013 when the consumption volume increased by % y-o-y. Over the period under review, consumption reached the maximum volume in 2019 and is likely to see gradual growth in years to come.
The revenue of the market for saw logs and veneer logs (non-coniferous) in Uganda dropped notably to $ in 2019, waning by -% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption showed prominent growth. The growth pace was the most rapid in 2013 with an increase of % against the previous year. Consumption peaked at $ in 2017; however, from 2018 to 2019, consumption stood at a somewhat lower figure.
cubic meters, with an increase of % compared with the year before. The total consumption volume increased at an average annual rate of +% over the period from 2007 to 2019; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2013 when the consumption volume increased by % y-o-y. Over the period under review, consumption reached the maximum volume in 2019 and is likely to see gradual growth in years to come.The revenue of the market for saw logs and veneer logs (non-coniferous) in Uganda dropped notably to $
in 2019, waning by -% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption showed prominent growth. The growth pace was the most rapid in 2013 with an increase of % against the previous year. Consumption peaked at $ in 2017; however, from 2018 to 2019, consumption stood at a somewhat lower figure.Market Forecast
Driven by increasing demand for saw logs and veneer logs (non-coniferous) in Uganda, the market is expected to continue an upward consumption trend over the next decade. Market performance is forecast to retain its current trend pattern, expanding with an anticipated CAGR of +% for the period from 2019 to , which is projected to bring the market volume to cubic meters by the end of .
% for the period from 2019 to , which is projected to bring the market volume to cubic meters by the end of .Market Structure
Over the period under review, imports of saw logs and veneer logs (non-coniferous) in Uganda were negligibly small compared to the production volumes. Therefore, the share of imports in the total market was practically nonexistent, both in volume and in value terms. This situation has remained constant over the period under review, which means that domestic producers entirely meet the domestic demand for saw logs and veneer logs (non-coniferous).
Trade Balance
This tangible trade surplus reflects the fact that the market remains buoyed by domestic production, and the industry is highly incorporated into the global market, which is likely to continue in the medium term.
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