Latvian forestry exports at record high

Latvia exported EUR 2.04 billion worth of forestry industry products, which was 3.1 percent more than in 2014 when exports amounted to EUR 1.978 billion, the Latvian Agriculture Ministry told LETA Thursday.

In 2015, Latvia exported EUR 1.736 billion worth of timber and timber products, up 2 percent from EUR 1.699 billion exported in 2014.

Traditionally, Latvia’s largest forestry export markets were the Uk, Germany and Sweden. Latvia supplied its forestry products mainly to the UK (18.9 percent of total exports), Germany (10.5 percent) and Sweden (9.5 percent). Compared to 2014, forestry industry exports to the UK grew 17.2 percent to EUR 386.054 million euros, exports to Germany increased 2 percent to EUR 213.32 million euros, and exports to Sweden rose 20.4 percent to EUR 193.349 million euros.

Also, Latvia imported EUR 705.882 million worth of forestry products, which is a growth by 4.3 percent from EUR 676.671 million in 2014.

Lithuania traditionally supplied the largest amount of forestry industry products to Latvia in 2015, worth EUR 123.89 million and making up 17.6 percent of total forestry industry imports. Estonia supplied EUR 90.38 million worth of products or 12.8 percent, and Poland supplied products for EUR 90.13 million or 12.8 percent.

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