Latvia exported forest products worth EUR 1.532 billion in 3Q/2015, a 3% increase from the year before, according to the Latvian Agriculture Ministry.

Exports of timber and related products rose 1.6% year-on-year to EUR 1.305 billion. Major export destinations were the UK, Germany and Sweden. The UK market made up 18.3% of total forest product exports worth EUR 280 million; to Germany, 10.3% worth EUR 157 million; to Sweden 8.8%, worth EUR 134 million.

Meanwhile, Latvian imports of forest products also grew 6.4% year-on-year to EUR 531 million during this period.

The top three import partners remained unchanged, with Lithuania as its top supplier at 17.2% (EUR 91 million); Estonia at 12.4% (EUR 65 million); Poland at 12.4% (EUR 66 million).

In 2014, Latvian exports of forest products totaled EUR 2.015 billion and imports EUR 688.740 million.

Source: Fordaq