Revenue From Timber Exports Decline
Over twelve million euros was realized from exports of wood products alone in August 2010. According to the Timber Industry Development Division (TIDD) Report on Export of Wood Products for August 2010, Ghana realized Euro 12,506,030 from the export of 36,145 cubic metres of wood products in August. The corresponding figures for the same period in 2009 were Euro 12,756,543 and 44,889 cubic metres, representing decreases of 1.96% in value and 19.48% in volume respectively. The report said Ghana might continue to experience declines in wood product exports due to scarcity of commercial timber trees. Environmental degradation of the forest by farmers and illegal operators could be the underlying cause but opportunity still existed for fast growing species and promotion of Lesser Used Species (LUS), the report said. Of the total value of Euro 92,390,058 for January to August 2010, primary products such as poles and billet accounted for Euro 4,988,902 as compared to Euro 8,761,001 from the total value of Euro 86,123,725 in January to August 2009.