Wood, tropical: as specified in Subheading Note 2 to this Chapter, mahogany (Swietenia spp.), sawn or chipped lengthwise, sliced or peeled, whether or not planed, sanded or end-jointed, thicker than 6mm

In 2024, wood, tropical: as specified in subheading note 2 to this chapter, mahogany (swietenia spp.), sawn or chipped lengthwise, sliced or peeled, whether or not planed, sanded or end-jointed, thicker than 6mm trade exhibited slight decline, with global flows reaching $63,467,193 and a three-year compound annual growth rate of -14.8% (five-year: -14.9%). The all-time peak of $210,925,802 was recorded in 2005; the current level is 70% below that high-water mark.

Over the 30-year observation window (1995–2024), 34% of years recorded positive growth, indicating significant cyclicality with frequent contractions. Trend momentum is decelerating (-10.8% acceleration).

The supply side is concentrated (Herfindahl-Hirschman Index 0.331). The three largest exporters — Ghana ($35.7M), Cameroon ($16.3M), and Fiji ($10.2M) — collectively dominate supply flows. The leading exporter has grown at +4.4% over the last three years.

On the demand side, importer concentration is diversified (HHI 0.117). The three largest import markets are United States ($15.5M), India ($12.9M), and Vietnam ($4.5M). The largest importing market sources from 19 different supplying countries.

Estimated substitution elasticity: -11.29. Buyers are highly price-sensitive and can switch between suppliers relatively easily.

The dominant trade corridor is Ghana → India at $12.5M, representing 96.7% of the importer's total demand.

The volatility score for wood, tropical: as specified in subheading note 2 to this chapter, mahogany (swietenia spp.), sawn or chipped lengthwise, sliced or peeled, whether or not planed, sanded or end-jointed, thicker than 6mm is 22 out of 100, classified as low. Trade flows are relatively stable compared to other HS6 products, suggesting mature supply chains and predictable demand.

For market entrants, contracting demand signals caution before committing resources. The concentrated supply structure suggests high barriers but also potential opportunity if dominant suppliers face disruption or capacity constraints.

Data confidence is rated "High" based on reporting coverage and consistency across OECD member and partner countries.