Furniture production in Latvia increases by nearly 50%

In the 3^rd  quarter, furniture production in Latvia rose by nearly50% comparing to the same quarter of the previous year to a value of €72.9m.

In accordance with  the Central Statistical Bureau of Latvia, turnover increased at the same rate to €75.1m. The biggest volume of furniture industry turnover in the 3^rd  quarter, at 82%, was recorded in exports. In comparison with the 2 previous quarters internal turnover gained a preliminary peak, reaching a proportion of 18%. In the first and second quarters the proportion of internal Latvian turnover had showed 15.5% and 16.9% respectively.

Duing the first nine months, Latvian furniture production gained a total value of €207.0m. In comparison with the same period of 2020, this represents a growth of 46.6%. Turnover grew at an even more considerable rate by 47.0% to €211.7m. In 2020, production had increased by 2% to €199.2m and turnover by 3% to €203.3m.

Information provided according to www.euwid-wood-products.com