Latvia, Markets and Companies, Woodwork

International Internet Magazine. Baltic States news & analytics Saturday, 15.08.2020, 10:01

Latvia: Timber industry export to see drop this year

BC, Riga, 27.07.2020.Print version
Timber industry export this year, most believably, will see a drop, said Latvian Forest Industry Federation's executive director Kristaps Klauss in an interview with LETA.

He said that the sector in the middle of March and the beginning of April assumed the worst scenario in relation to the Covid-19 pandemic, but in reality the situation turned out to be better than expected.

Klauss said that timber processing companies have orders for two or three months already. If initially it was expected that construction in the UK will resume only June, some activity showed already in May and there is a deficit in some product categories.

Also, Latvian timber sector has good chances in the US market.

He said that overall export of the timber sector might drop, the companies will not see any significant profits.

A possible second wave of the pandemic might be the biggest challenge for the coming months. Also, the Brexit situation at the end of the year will bring additional challenges.

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