HS Code:
Okoume (Aucoumea spp.) is a tropical hardwood primarily found in Central Africa, especially in Gabon. It falls under the HS Code 4407.29, which covers wood sawn or chipped lengthwise, sliced or peeled, whether or not planed, sanded, or end-jointed, of a thickness exceeding 6 mm, specifically for tropical woods. Okoume is widely used in the manufacture of plywood, veneer, furniture, and lightweight construction materials due to its uniform texture, lightweight nature, and ease of processing. Its trade is significant in the global timber market, with a strong focus on exports from African countries to Europe and Asia for industrial applications.
Total Trade Volume
Approximately 1.2 million cubic meters
Data from 2022
Source
International Tropical Timber Organization (ITTO) and UN Comtrade Database
850,000 cubic meters
70.8% of total trade of total trade
Increasing
200,000 cubic meters
16.7% of total trade of total trade
Stable
100,000 cubic meters
8.3% of total trade of total trade
Decreasing
300,000 cubic meters
25.0% of total imports of total trade
Stable
250,000 cubic meters
20.8% of total imports of total trade
Increasing
Average Rate
6.5% ad valorem
Highest Rate
12% (applied by certain Asian countries)
Lowest Rate
0% (under preferential trade agreements like EU-GSP for African exporters)
Growing demand for sustainable timber
Increased pressure on Okoume exporters to comply with certifications like FSC and PEFC, boosting costs but also opening premium markets in Europe.
2021-2022
Rising competition from alternative materials
Substitution with engineered wood and other tropical species has slightly reduced Okoume’s market share in plywood manufacturing.
2020-2022
Shift in demand to Asia
China and Southeast Asia have increased imports of Okoume for furniture and construction, diversifying export destinations from traditional European markets.
2019-2022
Gabon introduced stricter export controls on raw Okoume logs to encourage local processing and value addition, mandating that a higher percentage of timber be processed domestically before export.
January 2023
This has led to a temporary reduction in raw log exports but an increase in processed Okoume products like veneer and plywood, potentially raising prices in the short term.
The European Union has tightened enforcement of the EU Timber Regulation (EUTR), requiring stricter due diligence for Okoume imports to combat illegal logging.
March 2023
Exporters from Central Africa face higher compliance costs, but certified suppliers may gain a competitive edge in the EU market.
Increased infrastructure and housing projects in China have driven up demand for lightweight tropical timber like Okoume for formwork and interior applications.
Mid-2022
This has resulted in a 15% increase in Okoume exports to China, diversifying market reliance away from Europe.