Latvian forest sector faces serious challenges in the global wood markets

The year 2023 was quite dynamic and sometimes unpredictable for the Latvian forest industry. Pēters Putniņš, chairman of the board of the Latvian State Forests (LVM), said that although in 2023 there was a sufficient supply of logging and transport services capacity, there was a slowdown in economic activity in the most important markets for wood products. "Also in Latvia, the volumes of the manufacturing industry are decreasing, including in the largest sub-sectors - wood industry, building materials and metal products production. Weak demand and smaller volume of new orders contribute to the decline of wood sales ...