Overview of the Market for Saw Logs And Veneer Logs (Non-Coniferous) in Solomon Islands
Market Overview
In 2019, after three years of growth, there was decline in the Solomon Islands market for saw logs and veneer logs (non-coniferous), when its value decreased by -
% to $. Overall, the total consumption indicated moderate growth 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, consumption increased by +% against 2015 indices. The pace of growth was the most pronounced in 2017 when the market value increased by % y-o-y. Consumption peaked at $ in 2018, and then shrank in the following year.
In value terms, production of saw logs and veneer logs (non-coniferous) dropped to $ in 2019 estimated in export prices. Over the period under review, the total production indicated a moderate increase from 2007 to 2019: its value increased at an average annual rate of +% over the last twelve years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2019 figures, production decreased by -% against 2017 indices. The growth pace was the most rapid in 2017 with an increase of % y-o-y. As a result, production attained the peak level of $. From 2018 to 2019, production growth remained at a lower figure.
% to $. Overall, the total consumption indicated moderate growth 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, consumption increased by +% against 2015 indices. The pace of growth was the most pronounced in 2017 when the market value increased by % y-o-y. Consumption peaked at $ in 2018, and then shrank in the following year.In value terms, production of saw logs and veneer logs (non-coniferous) dropped to $
in 2019 estimated in export prices. Over the period under review, the total production indicated a moderate increase from 2007 to 2019: its value increased at an average annual rate of +% over the last twelve years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2019 figures, production decreased by -% against 2017 indices. The growth pace was the most rapid in 2017 with an increase of % y-o-y. As a result, production attained the peak level of $. From 2018 to 2019, production growth remained at a lower figure.Consumption
For the fourth year in a row, Solomon Islands recorded growth in consumption of saw logs and veneer logs (non-coniferous), which increased by % to cubic meters in 2019. Overall, consumption continues to indicate a prominent expansion. The growth pace was the most rapid in 2010 with an increase of % year-to-year. Consumption peaked in 2019 and is expected to retain growth in years to come.
The revenue of the market for saw logs and veneer logs (non-coniferous) in Solomon Islands shrank modestly to $ in 2019, remaining stable 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). In general, the total consumption indicated pronounced growth 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, consumption increased by +% against 2015 indices. The most prominent rate of growth was recorded in 2017 when the market value increased by % year-to-year. Over the period under review, the market reached the maximum level at $ in 2018, and then dropped slightly in the following year.
% to cubic meters in 2019. Overall, consumption continues to indicate a prominent expansion. The growth pace was the most rapid in 2010 with an increase of % year-to-year. Consumption peaked in 2019 and is expected to retain growth in years to come.The revenue of the market for saw logs and veneer logs (non-coniferous) in Solomon Islands shrank modestly to $
in 2019, remaining stable 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). In general, the total consumption indicated pronounced growth 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, consumption increased by +% against 2015 indices. The most prominent rate of growth was recorded in 2017 when the market value increased by % year-to-year. Over the period under review, the market reached the maximum level at $ in 2018, and then dropped slightly in the following year.Market Forecast
Driven by increasing demand for saw logs and veneer logs (non-coniferous) in Solomon Islands, the market is expected to continue an upward consumption trend over the next decade. Market performance is forecast to decelerate, 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 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).
Trade Balance
Solomon Islands remains a net exporter of saw logs and veneer logs (non-coniferous); in physical and value terms, exports consistently exceeded imports from 2007 to 2019. In 2019, there was a significant trade surplus of - cubic meters, which was equal to $-. This tangible trade deficit reflects the fact that the market remains dependent on imports, which is likely to continue in the medium term.
cubic meters, which was equal to $-. This tangible trade deficit reflects the fact that the market remains dependent on imports, which is likely to continue in the medium term.
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