Latvia's forest industry export up 9.5%

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From January to October 2014, Latvia's forest industry exports increased by 9.5% from the figures of the same period of 2013, according to data provided by the Latvian Forest Department of the Ministry of Agriculture, compiled by the Baltic Course. The export value reached EUR 1.70 billion, compared to EUR 1.55 billion in 2013.

The value of wood and wood products exported in the first ten months of 2014 was EUR 1.46 billion, which is 10% more than in 2013. The largest export markets were the United Kingdom (EUR 280.122 and 16.5% of total forest industry export), followed by Sweden (EUR 180.842 million and 10.6% share) and Germany (EUR 180.964 million and 10.6% share).

In the same period, Latvian forest industry imports amounted to EUR 576.42 million, which is 18% more than in the respective period of 2013, when the figure reached EUR 488.56 million.

The majority of Latvia's forest industry imports came from Lithuania – EUR 114.28 million or 19.8% of all imports, Estonia – EUR 69.52 million (12%), and Poland – EUR 69.32 million (11.6%).

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