{"id":88094,"date":"2024-09-25T07:17:31","date_gmt":"2024-09-25T07:17:31","guid":{"rendered":"https:\/\/tin.happy-projects.ro\/2024-is-a-year-of-survival-for-the-latvian-timber-industry\/"},"modified":"2025-09-19T09:02:50","modified_gmt":"2025-09-19T09:02:50","slug":"2024-is-a-year-of-survival-for-the-latvian-timber-industry","status":"publish","type":"post","link":"https:\/\/www.timberindustrynews.com\/ro\/2024-is-a-year-of-survival-for-the-latvian-timber-industry\/","title":{"rendered":"2024 is a year of survival for the Latvian timber industry"},"content":{"rendered":"

For the Latvian wood industry, this is a year of survival, not development<\/span>, said Art\u016brs Bukonts, executive director of the Latvian Wood Industry Federation (LKF).<\/p>\n

He pointed out that the foreign trade balance based on the data of the Central Statistics Office (CSB) shows that in the first half of 2024 softwood lumber brought the largest export income, while the export of chipboards, containers and furniture brought in less income. Similar to other sectors, also in the Latvian wood industry, the total export indicators for the first half of 2024 were negative. The export value of Latvian wood products decreased by 3.4% in six months and amounted to 1.73 billion euros.<\/p>\n

Bukonts noted that the consumption of Latvian wood products in global markets is related to the activity of the construction sector - however, the forecasts are not positive there either, for example, the research organization \"Euroconstruct\" predicts that the volume of residential buildings commissioned in Europe in 2024 will decrease by 8.5%. and the decline could continue in the coming years.<\/p>\n

He also mentioned that the Latvian producers of birch products had very good profit indicators in 2023, but they were worse in the softwood processing segment. He stated that if large sawmills exclude dividends from their subsidiaries not involved in sawing, as well as income from financial investments and other non-sawing-related profits, the year 2023 was extremely poor for them, comparable to the 2008 crisis.Out of 12 sawmills, only two showed positive results from their core business, while ten operated with losses and the total amount of losses exceeded 30 million euros.<\/p>\n

However, Bukonts emphasized that in 2021 and 2022 there were record high incomes that were invested on time, and therefore it is currently possible to implement various projects, adding that when the market revives, the forest sector will be stronger than before. A large part of the new projects is related to the further processing of wood.<\/p>\n

He said that there are few positive signals in the markets at the moment, predicting that the challenges for the industry will increase at the end of 2024 and in 2025 due to the stagnation of the European and US construction sectors. However, Bukont expressed hope that the competitiveness between European manufacturers could be equalized. If last year the Swedes had the opportunity to buy sawlogs from their forest owners even 40% cheaper, and Germany could base its competitiveness on cheap wood damaged by bark beetles, then currently the prices of softwood sawlogs are quite similar throughout Europe.<\/p>\n

The executive director of LKF explained that if all market participants feel the problem in the same way, then a logical solution is expected sooner. The economy is cyclical, and this situation will not continue forever - as soon as the construction sector recovers, the Latvian wood industry will continue to develop. If currently the companies that work with birch mainly invest in the development, then in the near future the investments will also be made by conifer and other wood processors.<\/p>\n

LKF represents the forestry work and wood products manufacturing industry. The Federation includes associations of the wood industry industry, in which various forestry, primary processing, further processing, wooden house and furniture manufacturers have united.<\/p>","protected":false},"excerpt":{"rendered":"

For the Latvian wood industry, this is a year of survival, not development, said Art\u016brs Bukonts, executive director of the Latvian Wood Industry Federation (LKF). He pointed out that the foreign trade balance based on the data of the Central … Continue reading →<\/span><\/a><\/p>","protected":false},"author":1,"featured_media":96412,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[4716],"tags":[],"class_list":["post-88094","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-latest-trends"],"acf":[],"yoast_head":"\n2024 is a year of survival for the Latvian timber industry - Timber Industry News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.timberindustrynews.com\/ro\/2024-is-a-year-of-survival-for-the-latvian-timber-industry\/\" \/>\n<meta property=\"og:locale\" content=\"ro_RO\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"2024 is a year of survival for the Latvian timber industry - Timber Industry News\" \/>\n<meta property=\"og:description\" content=\"For the Latvian wood industry, this is a year of survival, not development, said Art\u016brs Bukonts, executive director of the Latvian Wood Industry Federation (LKF). 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