Latvia’s forestry turnover reached 2.04 billion euros in 2015, which was 3.1 % more than the year before.
In 2015, Latvia exported 1.736 billion euros worth of timber and timber products, up 2 percent from 1.699 billion euros exported in 2014.
Latvia’s largest forestry export markets were the UK, Germany and Sweden, with the largest bulk going to the UK (18.9 %), Germany (10.5 %) and Sweden (9.5 %) accordingly. Compared to 2014, the industry exports to the UK grew 17.2 % to 386.054 million euros, exports to Germany increased 2 % to 213.32 million euros, and exports to Sweden rose 20.4 % to 193.349 million euros.
Latvia also imported 705.882 million euros worth of forestry products, which is a growth by 4.3 % from 676.671 million euros in 2014. Lithuania was the largest supplier of forestry industry products to Latvia in 2015, worth 123.89 million euros and making up 17.6 % of total industry imports. While Estonia supplied 90.38 million euros worth of products or 12.8 %, and Poland supplied products for 90.13 million euros or 12.8 %