Wood fuel market in Guyana

Earlier Report Observations

The wood fuel market in Guyana saw a gradual contraction in physical volume from 823 thousand m³ in 2018 to 805 thousand m³ in 2023. This decline was partly driven by strict logging rules enforced by the National Forestry Office (ONF), which limited harvests to five trees per hectare every 65 years, constraining supply. Additionally, weak regional economic growth in Latin America and the Caribbean in 2019 reduced local demand for wood fuel.

In value terms, the market exhibited more pronounced volatility, falling from 203 million dollars in 2018 to 134 million dollars in 2020 before recovering to 154 million dollars by 2023. The drop in value during 2019-2020 coincided with a freeze on standing timber prices maintained by the ONF, which lowered overall revenue. The subsequent rebound in 2021 was linked to the commissioning of the 5.1 MW Cacao biomass power plant operated by Voltalia, which increased demand for wood residues for energy production, alongside support from ADEME through the Heat Fund for renewable heat projects.

Throughout the period, the wood-energy sector's development was accelerated by the deployment of several biomass power plants, such as in Kourou and Cacao, and protective measures in European legislation like Amendment 33 to the RED II directive, which secured the continuation of renewable energy projects based on local biomass. These initiatives helped stabilize the market despite structural constraints in timber harvesting.

Production wood fuel in Guyana

In kind, 2018-2021, K m³

Top producers of wood fuel, 2018-2021

World map of production of wood fuel, 2018-2021

Guyana's wood fuel production declined for the third consecutive year. In 2021, production remained nearly unchanged from the previous year, with 813.3 thousand cubic meters of wood fuel produced.

Annual dynamics of production in Guyana in kind, 2018-2021, K m³

In value, 2018-2021, M $ US

After a two-year decline, wood fuel production in Guyana increased in 2021. Output was valued at 163.3 million US dollars, reflecting a solid gain of 21.5% from the previous year. Over the period from 2018 to 2021, production decreased by 19.8%, with a compound annual growth rate of 7.1%. The minimum value was recorded in 2020 at 134.4 million US dollars, while the largest decline occurred in 2020, at 21.8%.

Annual dynamics of production in Guyana in value, 2018-2021, M $ US

Exports wood fuel from Guyana

Exports in kind, m³

There were noticeable fluctuations in market performance during this period. The lowest exports were observed in 2018, with the highest in 2020, reflecting a 3.3-fold gap. In 2021, wood fuel exports from Guyana were recorded at 2,437 cubic meters, constituting a decrease of 28.1% compared to the previous year. The maximum value was recorded in 2020 at 3,389 cubic meters, while the largest increase occurred in 2020, at 166.8%.

Annual dynamics of product's exports from Guyana in kind, 2018-2021, m³

From 2018 to 2021, Trinidad and Tobago remained the dominant partner for exports in kind of wood fuel from Guyana, with a share of 86.9% of total flows, while other markets formed a long tail.

Structure of product's exports in kind by countries, 2018-2021

World map of product's exports from Guyana in kind, 2018-2021

Exports in value, K $ US

Volatility characterized the market behavior during these years. From a trough in 2018 to a peak in 2020, exports changed by 2.2 times. In 2021, Guyana exported 489.3 thousand US dollars of wood fuel, marking a significant decrease of 12.3% from 2020. The maximum value was recorded in 2020 at 557.8 thousand US dollars, while the largest increase occurred in 2020, at 109.5%.

Annual dynamics of product's exports from Guyana in value, 2018-2021, K $ US

From 2018 to 2021, Trinidad and Tobago was the key and almost sole market for exports in value terms of wood fuel from Guyana, accounting for 90.4% of total flows.

Structure of product's exports in value by countries, 2018-2021

World map of product's exports from Guyana in value, 2018-2021

Imports wood fuel to Guyana

Imports in kind, m³

There were noticeable fluctuations in market performance during the period. From a low in 2020 to a high in 2018, import volumes varied 6.8 times. In 2021, the volume of wood fuel imports to Guyana amounted to 10 cubic meters, representing an increase of 51.1% compared to 2020. The minimum value was recorded in 2020 at 6 cubic meters, while the largest decline occurred in 2019, at 77.3%.

Annual dynamics of product's imports to Guyana in kind, 2018-2021, m³

From 2018 to 2021, Trinidad and Tobago and the United States captured most of imports in kind, jointly taking 99.5% of total flows.

Structure of product's imports in kind by countries, 2018-2021

World map of product's imports to Guyana in kind, 2018-2021

Imports in value, K $ US

Volatility characterized the market behavior during these years. From a low in 2019 to a high in 2018, imports varied by 5.7 times. In 2021, Guyana's wood fuel imports totaled 19.2 thousand US dollars, representing a sharp advance of 103.2% compared with 2020. The minimum value was recorded in 2019 at 7.8 thousand US dollars, while the largest decline occurred in 2019, at 82.3%.

Annual dynamics of product's imports to Guyana in value, 2018-2021, K $ US

Throughout 2018 to 2021, Trinidad and Tobago, with 53.6% of total flows, and the United States, with 45.8%, were the key markets for imports in value terms, together forming 99.5% of total flows.

Structure of product's imports in value by countries, 2018-2021

World map of product's imports to Guyana in value, 2018-2021