Industrial roundwood production in Ghana showed varied trends from 2013 to 2023. Starting at 2.337 million cubic meters in 2013, production exhibited fluctuations with a notable high of 2.6877 million cubic meters in 2018 and a significant low of 1.8455 million cubic meters in 2020. The period from 2021 to 2023 displayed a gradual downward trend, reaching 2.0248 million cubic meters in 2023.
Year-on-year variations highlight considerable production volatility, with sharp decreases such as -16.64% in 2020 and -17.63% in 2019, balanced by substantial increases like 19.07% in 2015 and 12.46% in 2018. The recent two-year period (2022-2023) shows a slight decline with a production drop of 0.6% in 2023 compared to the stable output in 2022. The Compound Annual Growth Rate (CAGR) over the last five years stands at -5.51%, reflecting a general decline.
Future projections for 2024 and beyond suggest a continued, albeit slight, decrease in production, with a forecasted 5-year CAGR of -0.26%. By 2028, the forecast indicates a minor decrease to 1.9923 million cubic meters.
Trends to watch for in the future include potential impacts of environmental policies, reforestation efforts, and global demand fluctuations. Sustainable logging practices and technological advancements in the timber industry may also influence production levels. Monitoring these factors will be crucial for anticipating changes in Ghana's industrial roundwood production landscape.
