Latvia’s timber market: Price fluctuations and positive outlook for 2023

The timber market in Latvia experienced a notable increase in prices throughout 2022. However, the first half of 2023 is expected to witness a decline in timber prices. This can be attributed to a reduction in construction activities, which leads to decreased demand for timber and subsequently lowers its price. Nevertheless, the second half of 2023 might bring a resurgence in timber prices as construction volumes rise, resulting in increased demand and higher prices. The surge in prices can primarily be attributed to the decrease in interbank interest rates, which, in turn, stimulates construction activities. While timber prices in ...