Ghana's plywood production experienced fluctuations from 2013 to 2023. The production value in 2023 stood at 138.23 thousand cubic meters. There was notable stability from 2013 to 2019, followed by a significant drop of 28.88% in 2020, which was linked to various economic and supply chain disruptions. Recovery was mild with a 7.02% increase in 2021 and a further 0.9% increase in 2023. The compound annual growth rate (CAGR) over the last 5 years was -5.14% due to the dramatic 2020 drop.
Looking forward from 2024 to 2028, forecasts indicate a gradual increase in production with a 0.67% CAGR and a forecasted overall growth rate of 3.4% across five years. Future trends to monitor include:
- Economic stabilization and recovery efforts.
- Supply chain resilience and diversification.
- Investments in production technology and sustainable practices.
- Market demand changes both domestically and internationally.
