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In the first half of this year, Latvia's forest industry faced challenges as its export revenue amounted to 1.76 billion euros, which is 20.6% or 454.59 million euros less than in the same period in 2022. This decline can be attributed to the relatively poor market conditions in the construction and wooden container segments.<\/p>\n
Data gathered by the Ministry of Agriculture, based on Central Statistics data, reveals that in the first half of 2023, the highest export income was generated by logs, firewood, and plywood, while the export of sawn timber, chipboards, containers, and furniture yielded lower returns. Furthermore, the import of forest products decreased from 816.4 million euros last year to 543.4 million euros this year.<\/p>\n
Kristaps Klauss, Vice President of the Latvian Federation of Wood Industry, underscores that it's challenging to directly compare the data from the first half of 2023 to that of the same period in 2022 due to significant changes that have negatively impacted Latvia's forest industry. He explains that wood products from Russia and Belarus, which were previously imported, are now subject to sanctions in Latvia and across the European Union. While this move is justified, as it doesn't support the income of these aggressor countries, it has disrupted the flow of wood products into Latvia. Historically, Latvia imported one million m3 of timber annually from these Eastern countries, with some being processed into carpentry, wooden structures, furniture, and lumber for export.<\/p>\n
Klauss notes that a thriving industry in Latvia, and beyond, was built around processing these semi-processed wood products from Belarus and Russia, adding value through drying, planing, profiling, and exporting them as sawn timber. However, with the sanctions in place, these processors in Latvia turned to local sawmills for raw materials, leading to a reduction in the overall export volumes of lumber. This shift is reflected in the data, as lumber exports decreased from 2.04 million m3 to 1.43 million m3 in the first half of this year, a nearly 30% decline. Consequently, income from lumber sales abroad dropped by almost 50%, falling from 734.4 million euros in 2022 to 372.3 million euros this year.<\/p>\n
Klauss emphasizes that several factors contribute to this situation. Both the forest industry's export income and actual export volumes have declined in the first six months of 2023. This decline is mainly due to the challenging conditions in two out of the three key markets for wood products in Latvia's forest industry, namely construction and packaging.<\/p>","protected":false},"excerpt":{"rendered":"
In the first half of this year, Latvia’s forest industry faced challenges as its export revenue amounted to 1.76 billion euros, which is 20.6% or 454.59 million euros less than in the same period in 2022. This decline can be … Continue reading