Ghana’s timber trade hard hit by global economic crisis

timberThe global economic crisis is hitting Ghana’s timber industry very hard. Since the first quarter of 2009 the export of timber products from Ghana has continued to suffer decline.

According to the latest records of the International Tropical Timber Organisation (ITTO), the country has experienced a total contract volume of 107,184m3 and 1,801 pieces of furniture parts, representing 29.6% and 81% falls respectively compared with the previous quarter.

It added that with the exception of teak poles/billets/logs, which mainly go to the Indian market, all the major exportable products saw further decreases in volume in the quarter.

Timber, plywood, sliced veneer and finger-jointed products all fell in volume, ranging between 9-22%.

The first quarter 2009 exports for Ghana were worth €30m from a volume of 93,424m³, which represented a contraction of 34.7% and 31.4% respectively.

By Emmanuel K. Dogbevi

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