According to data from the Gabonese Ministry of Economy at the end of the third quarter, Gabon's timber industry activity fell by 17% quarter-on-quarter due to reduced orders. Compared with the second quarter of 2023, at the end of the third quarter of 2023, the sawn timber production index fell by 13%, veneer by 22%, and plywood by 8%.
It is understood that the Gabonese government has taken various measures in recent years to make wood the second largest export product in Gabon after oil and manganese. At present, these measures have achieved obvious results: the country has become the second largest sawn timber producer in Africa (the tenth largest in the world) and a large producer of veneer.
According to data from a recent report by the Bank of Central African States (BEAC), Gabon processes up to 69% of its timber, with only 31% of its output shipped to international markets. This makes Gabon the leader in this sector in the ECCAS region, ahead of Cameroon (which converts 36% of production into 64% of exports).
The Asian market is considered the main destination for Gabonese lumber, and the decrease in orders from Gabon in the third quarter is related to the downturn in the Asian market. According to statistics from the General Administration of Customs of China, in the third quarter of this year, the quantity of wood imported by China from Gabon decreased by only 3,000 m3; however, the quantity of plywood and veneer imported from Gabon fell by 26% year-on-year.
We mentioned before: Under the influence of the strike in the Gabon Enko Special Economic Zone (GSEZ) wood processing zone, Gabon's timber exports in the second half of the year have had a serious negative impact. At present, it seems that the third quarter is not only affected by the reduction in orders from Asia, but also by Gabon's own reasons. It is expected that the problem of Gabon's timber production shrinking will continue until the first half of next year.