The sawnwood production in Ghana stood at 534.55 thousand cubic meters in 2023. The production saw varied trends over the past decade with noticeable fluctuations. Between 2013 to 2019, the production remained relatively stable, oscillating slightly around the 534 thousand cubic meters mark. However, in 2020, there was a significant spike of 27.02%, reaching 677.99 thousand cubic meters. Following this peak, production sharply declined by 22.57% in 2021 and stagnated from 2022 onwards.
Year-on-year growth showed negative trends consecutively over 2021 and 2022, followed by a modest increase of 1.82% in 2023. The 5-year Compound Annual Growth Rate (CAGR) up to 2023 marked a minimal positive trend at 0.029%. Looking ahead from 2024 to 2028, the forecast indicates a gradual decline with a 5-year CAGR of -0.13% and a total growth rate of -0.62%.
Future trends to watch for include potential impacts of environmental policies, changes in domestic and international demand, as well as technological advancements in sustainable forestry practices. These factors could significantly influence the trajectory of sawnwood production in Ghana.
