Record Year for Latvian Forestry Exports
- New Europe Investor
- February 25, 2016
The Latvian forest industry experienced its largest year for exports according to the Minister of Agriculture.
Data from the Forestry Department showed that the value of exports for 2015 was €2.04 billion, an increase of 3.1% compared to the previous year. The 2014 figure was €1.978 billion.
Wood product exports totaled a value of €1.735 billion, an increase of 2% compared to 2014.
The major export markets for the Latvian forest industry are; the UK, Germany and Sweden with 18.9%, 10.5% and 9.5% respectively.
Forestry sector imports totaled €705 million, primarily from the two other Baltic states and Poland.
The Latvian forestry sector employs 40,000 people with a further 80,000 indirectly employed and makes up 5% of the country’s GDP.
There are 150,000 private forest owners in the country receiving income from the industry, each holding an average of 7.5 hectares.