Estonian timber companies in tough position due to economic downturn

Due to the general economic downturn, export volumes for timber companies in southeastern Estonia have fallen. Timber companies that sell their products to Scandinavia are in a particularly difficult situation. Like most Estonian timber companies, Hobbiton, a company that builds log houses near Räpina, has had to adapt to the recent decline in export volumes. "There is not so much demand from the Nordic countries any more. The biggest reason for this is the significant weakening of the local currencies in Norway and Sweden. All the houses that we build in Norway and Sweden have become somewhere ...