Estonia: Decline in demand forces the wood industry to adapt to the new situation

The Estonian timber industry continues to face challenges and some resiliency, and optimism has largely reversed for now. The summary of last year's sales revenue of the wood industry shows that the total turnover of the sector fell by 10% compared to the previous year. In the last quarter of the past year, the sales turnover of several large industries decreased by as much as 40% compared to the previous year. In essence, the sector has been in a downward trend for eight quarters in a row, which is how long Estonia's economic recession has lasted. However ...