Latvia: Roundwood Market 2024

Roundwood Market Size in Latvia

After six years of growth, the Latvian roundwood market decreased by X% to $X in 2022. Overall, the total consumption indicated buoyant growth from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Roundwood consumption peaked at $X in 2021, and then shrank significantly in the following year.

Roundwood Production in Latvia

In value terms, roundwood production shrank to $X in 2022 estimated in export price. In general, the total production indicated notable growth from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by X% against 2020 indices. The growth pace was the most rapid in 2018 with an increase of X%. Over the period under review, production attained the peak level at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

Roundwood Exports

Exports from Latvia

In 2022, shipments abroad of roundwood increased by X% to X cubic meters, rising for the second consecutive year after two years of decline. Over the period under review, exports continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 when exports increased by X%. As a result, the exports attained the peak of X cubic meters. From 2019 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, roundwood exports surged to $X in 2022. Overall, exports continue to indicate a prominent expansion. The most prominent rate of growth was recorded in 2018 when exports increased by X% against the previous year. Over the period under review, the exports hit record highs in 2022 and are likely to continue growth in years to come.

Exports by Country

Sweden (X cubic meters), Finland (X cubic meters) and China (X cubic meters) were the main destinations of roundwood exports from Latvia, together comprising X% of total exports. Estonia, Belgium, Poland, Germany and Lithuania lagged somewhat behind, together accounting for a further X%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Poland (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, Sweden ($X) remains the key foreign market for roundwood exports from Latvia, comprising X% of total exports. The second position in the ranking was taken by Finland ($X), with an X% share of total exports. It was followed by China, with an X% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Sweden was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Finland (X% per year) and China (X% per year).

Export Prices by Country

The average roundwood export price stood at $X per cubic meter in 2022, surging by X% against the previous year. Overall, export price indicated a buoyant increase from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, roundwood export price increased by X% against 2020 indices. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Lithuania ($X per cubic meter), while the average price for exports to Belgium ($X per cubic meter) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Lithuania (X%), while the prices for the other major destinations experienced more modest paces of growth.

Roundwood Imports

Imports into Latvia

In 2022, the amount of roundwood imported into Latvia expanded rapidly to X cubic meters, picking up by X% against the year before. Overall, imports continue to indicate a resilient increase. The most prominent rate of growth was recorded in 2014 when imports increased by X%. Over the period under review, imports reached the maximum in 2022 and are expected to retain growth in the immediate term.

In value terms, roundwood imports soared to $X in 2022. In general, imports continue to indicate a buoyant expansion. The most prominent rate of growth was recorded in 2013 when imports increased by X%. Over the period under review, imports reached the peak figure in 2022 and are likely to see steady growth in the near future.

Imports by Country

Lithuania (X cubic meters), Norway (X cubic meters) and Sweden (X cubic meters) were the main suppliers of roundwood imports to Latvia, with a combined X% share of total imports.

From 2012 to 2022, the biggest increases were recorded for Norway (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest roundwood suppliers to Latvia were Lithuania ($X), Norway ($X) and Sweden ($X), together comprising X% of total imports.

Among the main suppliers, Norway, with a CAGR of X%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average roundwood import price stood at $X per cubic meter in 2022, picking up by X% against the previous year. In general, import price indicated a noticeable expansion from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, roundwood import price increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2021 an increase of X% against the previous year. Over the period under review, average import prices hit record highs in 2022 and is likely to see gradual growth in the near future.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Estonia ($X per cubic meter), while the price for Belarus ($X per cubic meter) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Finland (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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