Modern Ghana logo

FEATURED: Can We Blame Religion For Africa’s Economic Woes?...

body-container-line
02.08.2005 Business & Finance

Export of wood products goes up by 10%

GNA

Takoradi, August 02, GNA - Export of wood products from the country for the first half of 2005 went up by 10.26 per cent or 229,199 cubic metres worth 89,220,978 Euro.

The country exported 214,913 cubic metres of the commodity worth 80,920,016 Euro for the same period in 2004, according to a statement from the Timber Industry Development Division of the Forestry Commission.

The statement, which was signed by Mr Robert Wilson, Assistant Public Relations Manager, said lumber, veneers, boules, plywood and sleepers formed 91.20 per cent or 208,518 cubic metres of the total exports.

These fetched 77,270,138 Euros while wawa, ceiba, teak, kako, niangon, mahogany and chenchen featured prominently in the species mix. The European Union was the biggest importer of Ghana's wood products and accounted for 45.34 percent of the imports totalling 103,930 cubic metres valued at 49,110,000 Euro.

Italy, Germany, France, the United Kingdom and Belgium led in the import of wood products from Ghana from about 15 European countries, while the United States for the past five years has shown consistency as a major destination for Ghana's wood products.

Wood products exported to the ECOWAS market during the period was 20,364 cubic metres valued at 5,221,682 Euros, representing 8.88 per cent of the export volume.

The statement attributed the low trade volume in the sub-region to high import tariffs coupled with high cost of freight. It stated that the tertiary sector of the industry is yet to respond strongly to export incentives like exemption from export levy granted the sector to enhance performance and attributed this to the use of obsolete production technology and poor fishing.

Wawa and ceiba maintained their prominence in the 41 species mix in both the secondary and tertiary sectors during the period under review. Odum, mahogany, mansonia, and sapele were species that had high average unit price of 810.01 Euro, 845.14 Euro, 739.50 Euro and 678.82 euro per cubic metre respectively.

body-container-line