Good for Business, Latvia, Markets and Companies, Woodwork

"The 2018 forecast is for a moderate growth," she said, reminding that also this year's forecast was cautiously positive and might have been true and in 2017 the association's members show a slight increase of their turnovers.

She said that the priorities for next year will be rebranding of the association, activities for Latvia's centenary that include a development of an exclusive furniture catalogue of the association's members. Also, next year criteria for the green procurement regarding furniture will be developed.

Dailrade Koks owner Andris Jansons said that the company has new projects and there is a stable cooperation with the existing partners that will positively affect next year's results. At the same time, labor and supplies costs will grow next year, and it will affect the product price.

Bolderaja Serviss board member Valdis Krauklis said that he predicts a moderate development in 2018. "Timber resource prices are growing, it is definitely a challenge. Still, on the one hand, it is good for Latvian producers as Latvia will no more be considered as the country of cheap laborforce and cheap production costs," he said.

Eliza-K board member Aleksejs Korockins said that it is too early to make any forecasts for 2018. "There is a serious work underway with partners and the price policies. We will be able to make any forecasts in late January of early February," he said.

During the first nine months of 2017, the companies united in Latvijas Mebeles (Latvian Furniture) furniture producers' association raised their aggregate turnover by 2.4% year-on-year to EUR 58.3 million, the association’s executive director Ieva Erle told LETA.

She said that turnover has increased for those companies who make office furniture, chairs and make individual orders.

In early 2017, forecasts about this year's turnover had been cautiously positive, and now it seems that they might have come true, and companies report a slight turnover growth.

This year three members of the association - Wenden Furniture, Sencis and Nakts Mebeles - opened a saloon at DECCO Centrs design quarter in Riga.

Dailrade Koks furniture producer's owner Andris Jansons said that 2017 had been a better year for the company than 2016 thanks to larger customer activity in the market and the overall economic growth.

Bolderaja Serviss board member Valdis Krauklis said that this year showed a small growth compared to last year. At the same time, Eliza-K board member Aleksejs Korockins said that demand for soft furniture in the domestic market has dropped considerably this year.

Latvijas Mebeles, established in 2001, has 14 members, producing at least 40% of furniture made in Latvia.