The import volume of wood-based panels to Ghana has shown significant fluctuations over the years. From 2013 to 2021, there was a steady increase peaking in 2021 at 81.87 thousand cubic meters. However, a substantial drop was recorded in 2022, followed by a recovery in 2023 to 79.93 thousand cubic meters. From 2018 to 2023, the year-on-year variations displayed notable peaks and troughs, with significant growth in 2021 (44.42%) and a sharp decline in 2022 (-27.85%). The average annual growth rate over the last five years (CAGR) stood at 18.68% for the period leading up to 2023. Forecasts for 2024-2028 suggest a positive growth trend with a CAGR of 6.45%.
Future trends to watch for include potential impacts of global wood supply constraints, shifts in trade policies, and changes in local demand driven by economic growth or construction activities. Additionally, environmental regulations and sustainability initiatives could influence the import dynamics of wood-based panels in Ghana.
