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Industry revenue of »sawmilling and planing of wood« in Estonia 2011-2023

According to a 2016 report from the United Nations Economic Commission for Europe (UNECE), Estonia had the highest per capita consumption of sawn softwood in the EU. Additionally, it was also amongst the leading exporters of roundwood in the world, having exported over 2.5 million cubic meters of roundwood. Therefore, it isn’t surprising to see that revenues of its sawmilling and planing of wood industry have witnessed a 60 percent rise between 2011-2019, growing from 728 million U.S. dollars to 1.1 billion U.S. dollars. Key growth drivers include the rising demand for wood, due to a rise in construction activity and the increasing use of wood as a source of renewable energy. Further, a large forest cover has also been beneficial for the industry.

As per initial predictions, the industry was forecast to witness 10 percent growth between 2020-2023. However, this is rather unlikely looking at the current scenario, as the outbreak of the corona virus has not only impacted domestic production, but also disrupted the overseas supply-chain activities. Manufacturing activity is likely to remain subdued in the short to medium term.

Industry revenue of »sawmilling and planing of wood« in Estonia from 2011 to 2023

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Sources

Supplementary notes

* Estimate - This also applies for past years as data provided by statistical institutions often is not available for more recent years.

Currency conversion factor: (EUR -> USD) = 1.186

The industry classification is based on the NACE Rev.2 - system in Estonia. The industry “sawmilling and planing of wood“ has the code “C161“.

Details on the methodology can be found here.

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