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International Internet Magazine. Baltic States news & analytics Sunday, 22.09.2019, 05:17

Forest industry exports continue to show moderate growth in Latvia

BC, Riga, 26.05.2016.Print version
Latvia’s forest industry exports continued moderate growth in the first quarter of this year, reaching EUR 537.527 million at the end of March, up 6.9% from the respective period in 2015, the Latvian Agriculture Ministry informed LETA.

Timber and timber products made up the bulk or 86.3% of total forest product exports in the first quarter of 2016 (85.3% in Q1, 2015), accounting for EUR 463.813 million and growing 8.2% year-on-year.


Timber exports in January-March this year included EUR 129.788 million worth of sawn timber, down 9.5% year-on-year and accounting for 24.1% of total forest industry exports. Firewood exports rose 7.9% to EUR 81.014 million and made up 15.1% of total Latvian forest industry exports. Round timber exports fell 27.9% to EUR 34.012 million, accounting for 6.3% of total forest exports.


Exports of wooden furniture slowed 3.8% year-on-year to EUR 32.805 million, accounting for 6.1% of total forest product exports (6.8% in Q1, 2015), and exports of paper, cardboard and their products rose 7.1% to EUR 29.401 million, making up 5.5% of total exports in the first three months of 2016 (5.5% in Q1, 2015).


In January-March 2016, Latvia supplied its forest products mainly to the UK (17.9%), Sweden (11.8%) and Germany (9.9%). As compared to the first quarter of 2015, forest industry exports to the UK grew 12.4% to EUR 96.056 million, exports to Sweden increased 40.3% to EUR 63.203 million, and exports to Germany rose 7.2% to EUR 53.32 million.


In the first quarter of 2015, Latvia exported EUR 502.781 million worth of forest industry products.

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