Latvia’s forest industry faces challenges in 2023: declining export revenue and sanctions impact

In the first half of this year, Latvia's forest industry faced challenges as its export revenue amounted to 1.76 billion euros, which is 20.6% or 454.59 million euros less than in the same period in 2022. This decline can be attributed to the relatively poor market conditions in the construction and wooden container segments. Data gathered by the Ministry of Agriculture, based on Central Statistics data, reveals that in the first half of 2023, the highest export income was generated by logs, firewood, and plywood, while the export of sawn timber, chipboards, containers, and furniture ...