Latvia: Industrial Roundwood (Coniferous) Market 2025

Industrial Roundwood (Coniferous) Market Size in Latvia

In 2022, the Latvian industrial roundwood (coniferous) market increased by 0.2% to $X, rising for the second year in a row after two years of decline. Over the period under review, the total consumption indicated a buoyant increase from 2012 to 2022: its value increased at an average annual rate of +10.6% 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 +23.0% against 2020 indices. Industrial roundwood (coniferous) consumption peaked in 2022 and is likely to continue growth in the immediate term.

Industrial Roundwood (Coniferous) Production in Latvia

In value terms, industrial roundwood (coniferous) production fell to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +4.5% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2013 when the production volume increased by 52% against the previous year. Industrial roundwood (coniferous) production peaked at $X in 2021, and then reduced in the following year.

Industrial Roundwood (Coniferous) Exports

Exports from Latvia

In 2022, approx. X cubic meters of industrial roundwood (coniferous) were exported from Latvia; shrinking by -8% on 2021 figures. Overall, exports showed a deep setback. The growth pace was the most rapid in 2018 with an increase of 36%. Over the period under review, the exports attained the maximum at X cubic meters in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

In value terms, industrial roundwood (coniferous) exports surged to $X in 2022. In general, exports, however, continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 when exports increased by 87% against the previous year. The exports peaked at $X in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Finland (X cubic meters), Estonia (X cubic meters) and China (X cubic meters) were the main destinations of industrial roundwood (coniferous) exports from Latvia, together accounting for 63% of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by China (with a CAGR of +89.2%), while the other leaders experienced more modest paces of growth.

In value terms, Estonia ($X), China ($X) and Finland ($X) were the largest markets for industrial roundwood (coniferous) exported from Latvia worldwide, together accounting for 69% of total exports.

Among the main countries of destination, China, with a CAGR of +89.9%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average industrial roundwood (coniferous) export price amounted to $X per cubic meter, jumping by 40% against the previous year. Overall, export price indicated a prominent expansion from 2012 to 2022: its price increased at an average annual rate of +5.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, industrial roundwood (coniferous) export price increased by +73.4% against 2020 indices. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Lithuania ($X per cubic meter), while the average price for exports to Germany ($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 Sweden (+4.9%), while the prices for the other major destinations experienced more modest paces of growth.

Industrial Roundwood (Coniferous) Imports

Imports into Latvia

For the third consecutive year, Latvia recorded growth in purchases abroad of industrial roundwood (coniferous), which increased by 23% to X cubic meters in 2022. In general, imports posted a strong expansion. The growth pace was the most rapid in 2013 when imports increased by 75%. Imports peaked in 2022 and are expected to retain growth in years to come.

In value terms, industrial roundwood (coniferous) imports rose notably to $X in 2022. Overall, imports showed resilient growth. The most prominent rate of growth was recorded in 2013 when imports increased by 96% against the previous year. Imports peaked in 2022 and are expected to retain growth in the near future.

Imports by Country

Sweden (X cubic meters), Norway (X cubic meters) and Lithuania (X cubic meters) were the main suppliers of industrial roundwood (coniferous) imports to Latvia, with a combined 93% share of total imports.

From 2012 to 2022, the biggest increases were recorded for Norway (with a CAGR of +168.1%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest industrial roundwood (coniferous) suppliers to Latvia were Lithuania ($X), Norway ($X) and Sweden ($X), with a combined 91% share of total imports.

In terms of the main suppliers, Norway, with a CAGR of +121.1%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average industrial roundwood (coniferous) import price amounted to $X per cubic meter, reducing by -12.6% against the previous year. Overall, the import price saw a relatively flat trend pattern. The growth pace was the most rapid in 2021 when the average import price increased by 33%. Over the period under review, average import prices attained the peak figure at $X per cubic meter in 2014; however, from 2015 to 2022, import prices remained at a lower figure.

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 Estonia ($X per cubic meter), while the price for Sweden ($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 Estonia (+12.4%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform