Romanian wood industry faces crisis as production plummets and prices soar

Romania's wood industry is grappling with an unprecedented crisis in 2023 as production levels spiral downward and prices skyrocket, leading to concerns about the sector's future and its broader impact on the national economy. A 30% decrease in the wood industry, considering its direct contribution to Romania's economy at 1.5% of GDP, is so substantial that it alone leads to a 0.5% decrease in Romania's GDP. When considering indirect and induced contributions, the impact is even greater, resulting in over a 1% decrease in Romania's GDP and a proportional reduction in state ...