Baltic Export, EU – Baltic States, Good for Business, Latvia, Markets and Companies

Exports of timber and its products rose 1.6% year-on-year to EUR 1.305 billion in the nine months of 2015.

The UK, Germany and Sweden were the key markets for Latvian forest products in the nine-month period. Products shipped to the UK made up 18.3% of total forest product exports and were worth EUR 280 million, exports to Germany made up 10.3%, or EUR 157 million, and exports to Sweden accounted for 8.8%, or EUR 134 million.

Meanwhile, Latvian imports of forest products grew 6.4% year-on-year to EUR 531 million from EUR 499 million in the nine months of 2014.

The top three import partners remained unchanged, with Lithuania supplying EUR 91 million worth of forest products to Latvia, or 17.2%, Estonia supplying forest products for EUR 65 million, or 12.4%, and Poland supplying forest products for EUR 66 million, or 12.4%.

In 2014, Latvian exports of forest products totaled EUR 2.015 billion and imports EUR 688.740 million.