Overview of the Market for Saw Logs And Veneer Logs (Non-Coniferous) in Solomon Islands

In 2019, the Solomon Islands market for saw logs and veneer logs (non-coniferous) decreased by -% to $, falling for the third year in a row after three years of growth. Over the period under review, consumption showed a deep downturn. The pace of growth appeared the most rapid in 2014 when the market value increased by % year-to-year. Over the period under review, the market attained the maximum level at $ in 2016; however, from 2017 to 2019, consumption stood at a somewhat lower figure.

In value terms, production of saw logs and veneer logs (non-coniferous) amounted to $ in 2019 estimated in export prices. Over the period under review, the total production indicated a tangible increase from 2007 to 2019: its value increased at an average annual rate of +% over the last twelve-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2019 figures, production increased by +% against 2014 indices. The most prominent rate of growth was recorded in 2008 with an increase of % y-o-y. Over the period under review, production attained the maximum level in 2019 and is expected to retain growth in years to come.

In 2019, consumption of saw logs and veneer logs (non-coniferous) decreased by -% to cubic meters, falling for the third year in a row after three years of growth. In general, consumption continues to indicate a deep contraction. The pace of growth was the most pronounced in 2015 when the consumption volume increased by % y-o-y. Over the period under review, consumption reached the maximum volume at cubic meters in 2016; however, from 2017 to 2019, consumption stood at a somewhat lower figure.

The value of the market for saw logs and veneer logs (non-coniferous) in Solomon Islands declined remarkably to $ in 2019, shrinking 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). Overall, consumption saw a deep reduction. The growth pace was the most rapid in 2014 when the market value increased by % against the previous year. Over the period under review, the market hit record highs at $ in 2016; however, from 2017 to 2019, consumption stood at a somewhat lower figure.

Depressed by shrinking demand for saw logs and veneer logs (non-coniferous) in Solomon Islands, the market is expected to continue its downward consumption trend over the next decade. The performance of the market is forecast to contract with an anticipated CAGR of -% for the period from 2019 to , which is projected to depress the market volume to cubic meters by the end of .

Over the period under review, imports of saw logs and veneer logs (non-coniferous) in Solomon Islands 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).