Record earnings for forestry exports last year

Latvia’s forestry industry exports reached a record-high €2.105 billion in 2014, up by 8.6% over the previous year’s exports, announced the Agriculture Ministry Monday.

Altogether the exports of timber and timber products totaled €1.73 billion, which was a rise of 9% from 2013.

As in previous years, Great Britain, Sweden and Germany made up the largest export markets for the Latvian forestry industry. Great Britain accounted for 16.7% (€336m), Sweden for 10.6% (€213m), and Germany 10.5% (€211m), respectively.

At the same time, Latvia’s imports of forest products also grew by 17.3% over 2013, reaching €688.74m.

In line with trends in previous years, the bulk of Latvia’s forestry industry imports came from Lithuania, accounting for 19.9% of the total value of imports (€137.34 million), followed by Estonia - 12.1 percent (€83.62 million), and Poland - 11.7 percent (€ 80.30 million).

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