In analyzing the non-coniferous industrial roundwood production in Ghana, it is evident that the sector experienced significant fluctuations over the past decade. Starting from 2013, there was a notable variation in year-on-year percentages, peaking in certain years like 2015 with an increase of 19.51%, and in 2018 with a rise of 12.72%. However, from 2019 onwards, the trend generally turned negative, with substantial decreases in 2019 and 2020 (-17.96% and -17.03%, respectively). As of 2023, production stood at approximately 1.97 million cubic meters, showcasing a slight year-on-year decrease of 0.62% and a five-year CAGR of -5.62%.
Looking towards the future forecasts from 2024 onwards, the production is expected to further decline gradually, with a CAGR of -0.26% over the next five years, reaching around 1.94 million cubic meters by 2028. This indicates a steady but mild decrease in production levels.
Important future trends to watch for include:
• Potential policy changes impacting forest management and conservation.
• Shifts in global demand for non-coniferous roundwood.
• Technological advancements in sustainable forestry practices.
• Economic developments within Ghana affecting the forestry sector.
