Estonia: Coniferous Roundwood Market 2024

Coniferous Roundwood Market Size in Estonia

For the third consecutive year, the Estonian coniferous roundwood market recorded growth in sales value, which increased by 6.9% to $X in 2022. In general, the total consumption indicated a remarkable increase from 2012 to 2022: its value increased at an average annual rate of +5.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +12.5% against 2018 indices. Coniferous roundwood consumption peaked in 2022 and is likely to continue growth in the near future.

Coniferous Roundwood Production in Estonia

In value terms, coniferous roundwood production contracted to $X in 2022 estimated in export price. Overall, production recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 with an increase of 50% against the previous year. As a result, production reached the peak level of $X. From 2019 to 2022, production growth failed to regain momentum.

Coniferous Roundwood Exports

Exports from Estonia

In 2022, overseas shipments of roundwood (coniferous) decreased by -19% to X cubic meters, falling for the fourth consecutive year after three years of growth. In general, exports continue to indicate a abrupt descent. The pace of growth was the most pronounced in 2013 with an increase of 21% against the previous year. As a result, the exports reached the peak of X cubic meters. From 2014 to 2022, the growth of the exports remained at a lower figure.

In value terms, coniferous roundwood exports stood at $X in 2022. Overall, exports continue to indicate a pronounced setback. The pace of growth was the most pronounced in 2018 when exports increased by 45% against the previous year. As a result, the exports attained the peak of $X. From 2019 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Finland (X cubic meters) was the main destination for coniferous roundwood exports from Estonia, accounting for a 49% share of total exports. Moreover, coniferous roundwood exports to Finland exceeded the volume sent to the second major destination, Sweden (X cubic meters), twofold. The third position in this ranking was taken by Germany (X cubic meters), with a 10% share.

From 2012 to 2022, the average annual growth rate of volume to Finland stood at -5.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Sweden (-8.6% per year) and Germany (-14.7% per year).

In value terms, Finland ($X) remains the key foreign market for roundwood (coniferous) exports from Estonia, comprising 46% of total exports. The second position in the ranking was taken by Sweden ($X), with a 17% share of total exports. It was followed by China, with a 13% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Finland totaled -2.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Sweden (-6.8% per year) and China (+18.8% per year).

Export Prices by Country

The average coniferous roundwood export price stood at $X per cubic meter in 2022, picking up by 38% against the previous year. Overall, export price indicated a pronounced expansion from 2012 to 2022: its price increased at an average annual rate of +3.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, coniferous roundwood export price increased by +62.0% against 2020 indices. The growth pace was the most rapid in 2018 when the average export price increased by 40% against the previous year. The export price peaked in 2022 and is expected to retain growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was China ($X per cubic meter), while the average price for exports to Germany ($X per cubic meter) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Finland (+3.9%), while the prices for the other major destinations experienced more modest paces of growth.

Coniferous Roundwood Imports

Imports into Estonia

In 2022, the amount of roundwood (coniferous) imported into Estonia skyrocketed to X cubic meters, rising by 35% against the year before. Overall, imports showed a prominent expansion. The pace of growth was the most pronounced in 2021 when imports increased by 68% against the previous year. Imports peaked in 2022 and are expected to retain growth in the near future.

In value terms, coniferous roundwood imports skyrocketed to $X in 2022. In general, imports posted a strong increase. The growth pace was the most rapid in 2021 when imports increased by 103%. Imports peaked in 2022 and are likely to see gradual growth in the near future.

Imports by Country

In 2022, Latvia (X cubic meters) constituted the largest supplier of coniferous roundwood to Estonia, with a 37% share of total imports. Moreover, coniferous roundwood imports from Latvia exceeded the figures recorded by the second-largest supplier, Poland (X cubic meters), twofold. Sweden (X cubic meters) ranked third in terms of total imports with a 16% share.

From 2012 to 2022, the average annual growth rate of volume from Latvia stood at +5.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Poland (+67.2% per year) and Sweden (+140.9% per year).

In value terms, Latvia ($X) constituted the largest supplier of roundwood (coniferous) to Estonia, comprising 42% of total imports. The second position in the ranking was held by Poland ($X), with a 19% share of total imports. It was followed by Sweden, with a 13% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Latvia stood at +7.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Poland (+48.3% per year) and Sweden (+105.1% per year).

Import Prices by Country

The average coniferous roundwood import price stood at $X per cubic meter in 2022, with a decrease of -9.4% against the previous year. Over the period under review, the import price, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 when the average import price increased by 47% against the previous year. As a result, import price reached the peak level of $X per cubic meter. From 2019 to 2022, the average import prices remained at a somewhat lower figure.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the highest price was recorded for prices from Latvia ($X per cubic meter) and Poland ($X per cubic meter), while the price for Sweden ($X per cubic meter) and Finland ($X per cubic meter) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Latvia (+1.8%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform