Latvia: Sawnwood Market 2024

Sawnwood Market Size in Latvia

After two years of growth, the Latvian sawnwood market decreased by X% to $X in 2022. In general, consumption, however, saw mild growth. As a result, consumption attained the peak level of $X, and then dropped notably in the following year.

Sawnwood Production in Latvia

In value terms, sawnwood production rose to $X in 2022 estimated in export price. Overall, production, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when the production volume increased by X%. As a result, production reached the peak level of $X. From 2019 to 2022, production growth remained at a lower figure.

Sawnwood Exports

Exports from Latvia

In 2022, overseas shipments of sawnwood decreased by X% to X cubic meters for the first time since 2017, thus ending a four-year rising trend. The total export volume increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2016 with an increase of X%. The exports peaked at X cubic meters in 2021, and then contracted in the following year.

In value terms, sawnwood exports fell to $X in 2022. In general, exports, however, continue to indicate a strong expansion. The pace of growth was the most pronounced in 2021 with an increase of X% against the previous year. As a result, the exports reached the peak of $X, and then shrank in the following year.

Exports by Country

The UK (X cubic meters) was the main destination for sawnwood exports from Latvia, accounting for a X% share of total exports. Moreover, sawnwood exports to the UK exceeded the volume sent to the second major destination, Estonia (X cubic meters), fourfold. The Netherlands (X cubic meters) ranked third in terms of total exports with a X% share.

From 2012 to 2022, the average annual growth rate of volume to the UK stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Estonia (X% per year) and the Netherlands (X% per year).

In value terms, the UK ($X) remains the key foreign market for sawnwood exports from Latvia, comprising X% of total exports. The second position in the ranking was held by the United States ($X), with a X% share of total exports. It was followed by Estonia, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value to the UK totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (X% per year) and Estonia (X% per year).

Export Prices by Country

The average sawnwood export price stood at $X per cubic meter in 2022, therefore, remained relatively stable against the previous year. In general, export price indicated a moderate 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, sawnwood export price increased by X% against 2018 indices. The most prominent rate of growth was recorded in 2021 an increase of X%. As a result, the export price reached the peak level of $X per cubic meter, and then reduced in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Japan ($X per cubic meter), while the average price for exports to Denmark ($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 Belgium (X%), while the prices for the other major destinations experienced more modest paces of growth.

Sawnwood Imports

Imports into Latvia

After two years of growth, overseas purchases of sawnwood decreased by X% to X cubic meters in 2022. Overall, imports, however, continue to indicate a strong expansion. The pace of growth appeared the most rapid in 2014 with an increase of X% against the previous year. Imports peaked at X cubic meters in 2021, and then contracted significantly in the following year.

In value terms, sawnwood imports declined dramatically to $X in 2022. Over the period under review, imports, however, continue to indicate prominent growth. The growth pace was the most rapid in 2021 with an increase of X%. As a result, imports attained the peak of $X, and then shrank rapidly in the following year.

Imports by Country

Belarus (X cubic meters), Estonia (X cubic meters) and Russia (X cubic meters) were the main suppliers of sawnwood imports to Latvia, together comprising X% of total imports. Finland, Lithuania, Sweden and Ukraine lagged somewhat behind, together comprising a further X%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Sweden (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest sawnwood suppliers to Latvia were Belarus ($X), Estonia ($X) and Russia ($X), with a combined X% share of total imports. Finland, Lithuania, Sweden and Ukraine lagged somewhat behind, together comprising a further X%.

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

Import Prices by Country

In 2022, the average sawnwood import price amounted to $X per cubic meter, growing by X% against the previous year. Over the period under review, the import price posted moderate growth. The most prominent rate of growth was recorded in 2021 when the average import price increased by X% against the previous year. Over the period under review, average import prices hit record highs in 2022 and is likely to continue growth in years to come.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the highest price was recorded for prices from Finland ($X per cubic meter) and Lithuania ($X per cubic meter), while the price for Belarus ($X per cubic meter) and Estonia ($X per cubic meter) were amongst the lowest.

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

Source: IndexBox Platform

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