Estonia: Sawnwood (Non-Coniferous) Market 2024

Sawnwood (Non-Coniferous) Market Size in Estonia

The Estonian sawnwood (non-coniferous) market rose remarkably to $X in 2022, surging by 5.7% against the previous year. In general, consumption, however, enjoyed a remarkable increase. Sawnwood (non-coniferous) consumption peaked in 2022 and is likely to see steady growth in years to come.

Sawnwood (Non-Coniferous) Production in Estonia

In value terms, sawnwood (non-coniferous) production expanded to $X in 2022 estimated in export price. In general, production saw a noticeable descent. The pace of growth was the most pronounced in 2017 with an increase of 28%. As a result, production attained the peak level of $X. From 2018 to 2022, production growth remained at a somewhat lower figure.

Sawnwood (Non-Coniferous) Exports

Exports from Estonia

In 2022, shipments abroad of sawnwood (non-coniferous) decreased by -8.3% to X cubic meters, falling for the fourth year in a row after two years of growth. In general, exports showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 with an increase of 42%. The exports peaked at X cubic meters in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

In value terms, sawnwood (non-coniferous) exports contracted slightly to $X in 2022. Overall, exports continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2015 when exports increased by 33%. The exports peaked at $X in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

The UK (X cubic meters) was the main destination for sawnwood (non-coniferous) exports from Estonia, accounting for a 43% share of total exports. Moreover, sawnwood (non-coniferous) exports to the UK exceeded the volume sent to the second major destination, Germany (X cubic meters), fivefold. Poland (X cubic meters) ranked third in terms of total exports with an 8.2% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to the UK totaled -1.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (-4.6% per year) and Poland (+57.2% per year).

In value terms, the UK ($X) remains the key foreign market for sawnwood (non-coniferous) exports from Estonia, comprising 39% of total exports. The second position in the ranking was taken by Finland ($X), with a 9.1% share of total exports. It was followed by Belgium, with a 7.5% share.

From 2012 to 2022, the average annual growth rate of value to the UK amounted to +2.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Finland (-8.0% per year) and Belgium (+26.1% per year).

Export Prices by Country

In 2022, the average sawnwood (non-coniferous) export price amounted to $X per cubic meter, surging by 5.5% against the previous year. In general, the export price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 an increase of 42% against the previous year. The export price peaked in 2022 and is likely to see gradual growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Finland ($X per cubic meter), while the average price for exports to the Netherlands ($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 the Netherlands (+7.3%), while the prices for the other major destinations experienced more modest paces of growth.

Sawnwood (Non-Coniferous) Imports

Imports into Estonia

In 2022, the amount of sawnwood (non-coniferous) imported into Estonia plummeted to X cubic meters, reducing by -28.7% against the previous year. Overall, imports, however, posted resilient growth. The pace of growth was the most pronounced in 2015 with an increase of 31%. Imports peaked at X cubic meters in 2021, and then reduced dramatically in the following year.

In value terms, sawnwood (non-coniferous) imports stood at $X in 2022. Over the period under review, imports, however, recorded a resilient expansion. The most prominent rate of growth was recorded in 2021 with an increase of 45%. Over the period under review, imports reached the peak figure in 2022 and are likely to see gradual growth in the near future.

Imports by Country

In 2022, Russia (X cubic meters) constituted the largest sawnwood (non-coniferous) supplier to Estonia, accounting for a 47% share of total imports. Moreover, sawnwood (non-coniferous) imports from Russia exceeded the figures recorded by the second-largest supplier, Latvia (X cubic meters), fourfold. The third position in this ranking was held by Ukraine (X cubic meters), with an 11% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Russia amounted to +11.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Latvia (+3.1% per year) and Ukraine (+2.4% per year).

In value terms, the largest sawnwood (non-coniferous) suppliers to Estonia were the United States ($X), Russia ($X) and Ukraine ($X), together comprising 63% of total imports.

Russia, with a CAGR of +16.5%, recorded the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average sawnwood (non-coniferous) import price stood at $X per cubic meter in 2022, surging by 42% against the previous year. Over the period under review, import price indicated noticeable growth from 2012 to 2022: its price increased at an average annual rate of +3.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, sawnwood (non-coniferous) import price increased by +61.0% against 2020 indices. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the United States ($X per cubic meter), while the price for Sweden ($X per cubic meter) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Ukraine (+7.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform