Wood marquetry and inlaid wood and wooden caskets and cases for jewellery or cutlery and similar articles and wooden furniture not classified in chapter 94 market in Latvia

Earlier Report Observations

The Latvian wood marquetry and inlaid wood market saw structural reorganization from 2018, with larger manufacturers being replaced by smaller, agile firms such as Malteks and Rondeks that specialized in furniture and chair production. This shift enabled better response to market demand, while the industry developed new product segments like glued laminated timber panels. The COVID-19 pandemic in 2020 disrupted supply chains and created demand volatility in the timber sector.

Market volume plummeted from $3.4 million in 2021 to $0.8 million in 2023. The contraction was driven by falling demand in key export regions—Europe, North America, and Asia—as higher interest rates and a construction slowdown reduced timber consumption. Global softwood lumber demand dropped by 5% in 2022, and the downtrend continued in 2023 with further declines in housing construction and persistently high borrowing costs.

In 2024, the European Central Bank raised its key interest rate to 4%, maintaining tight monetary conditions that weighed on construction and timber demand. By 2025, wood prices had increased by 30‑40% due to buyer competition, while stricter eco‑labeling requirements and growing consumer preference for sustainable wood products began influencing production and consumption patterns.

Production marquetry, inlaid wood and wooden caskets in Latvia

In value, 2018-2021, K $ US

Annual dynamics of production in Latvia in value, 2018-2021, K $ US

Exports marquetry, inlaid wood and wooden caskets from Latvia

Exports in kind, t

The market showed an unstable trend over the period. Import levels fluctuated significantly, with a 1.7-fold difference between the low of 2019 and the high of 2020. In 2021, Latvia's exports of wood marquetry, inlaid wood, wooden caskets and cases for jewellery or cutlery, and similar articles and wooden furniture not classified in chapter 94 totalled 140.6 tonnes, which is 29.6% lower than in 2020. The minimum value was recorded in 2019 at 116.1 tonnes, while the maximum was in 2020 at 199.7 tonnes. The largest increase occurred in 2020, with a rise of 71.9%.

Annual dynamics of product's exports from Latvia in kind, 2018-2021, t

From 2018 to 2021, Germany (31.7% of exports in kind), Estonia (31.7% of exports in kind), and Lithuania (21.6% of exports in kind) were the main markets for Latvia's exports of wood marquetry, inlaid wood, wooden caskets and cases for jewellery or cutlery, and similar articles and wooden furniture not classified in chapter 94. Together, these three countries accounted for 85.0% of total export flows.

Structure of product's exports in kind by countries, 2018-2021

World map of product's exports from Latvia in kind, 2018-2021

Exports in value, K $ US

Latvia's exports of wood marquetry, inlaid wood, wooden caskets and cases for jewellery or cutlery, and similar articles and wooden furniture not classified in chapter 94 increased for the second consecutive year. In 2021, exports reached 1 760 thousand US dollars, marking a 37.8% advance compared to 2020. Over the period from 2018 to 2021, exports grew by 94.2%, with a compound annual growth rate (CAGR) of 24.8%. The minimum value was recorded in 2019 at 844 thousand US dollars, with the largest decline that year at 6.8%. The largest increase occurred in 2020, with a rise of 51.3%.

Annual dynamics of product's exports from Latvia in value, 2018-2021, K $ US

Between 2018 and 2021, three key markets—Germany, Estonia, and the United States—collectively accounted for 74.5% of Latvia's total export value for wood marquetry, inlaid wood, wooden caskets and cases for jewellery or cutlery, and similar articles and wooden furniture not classified in chapter 94.

Structure of product's exports in value by countries, 2018-2021

World map of product's exports from Latvia in value, 2018-2021

Imports marquetry, inlaid wood and wooden caskets to Latvia

Imports in kind, t

In 2021, Latvia's imports of wood marquetry, inlaid wood, wooden caskets and cases for jewellery or cutlery, and similar articles and wooden furniture not classified in chapter 94 amounted to 207.3 tonnes, indicating a solid loss of 23.8% compared to the previous year. Over the period from 2018 to 2021, imports increased by 9.7%, with a compound annual growth rate (CAGR) of 3.1%. The minimum value was recorded in 2019 at 183.6 tonnes, while the maximum was in 2020 at 272.1 tonnes. The largest increase occurred in 2020, with a rise of 48.2%.

Annual dynamics of product's imports to Latvia in kind, 2018-2021, t

From 2018 to 2021, China (51.5% of imports in kind), Poland (25.7% of imports in kind), and Germany (7.3% of imports in kind) played the leading roles in Latvia's imports of wood marquetry, inlaid wood, wooden caskets and cases for jewellery or cutlery, and similar articles and wooden furniture not classified in chapter 94. Together, these three countries accounted for 84.5% of total import flows.

Structure of product's imports in kind by countries, 2018-2021

World map of product's imports to Latvia in kind, 2018-2021

Imports in value, K $ US

After a two-year advance, Latvia's imports of wood marquetry, inlaid wood, wooden caskets and cases for jewellery or cutlery, and similar articles and wooden furniture not classified in chapter 94 declined. In 2021, imports amounted to 1 144 thousand US dollars, indicating a limited fall of 5.0% compared with 2020. Between 2018 and 2021, imports increased by 30%, equating to an annualized rate of 9.1%. The maximum value was recorded in 2020 at 1 205 thousand US dollars, with the largest increase that year at 29.6%.

Annual dynamics of product's imports to Latvia in value, 2018-2021, K $ US

Over the period from 2018 to 2021, China (31.1% of imports in value terms), Poland (28.0% of imports in value terms), and Germany (11.8% of imports in value terms) made the biggest contribution to Latvia's imports of wood marquetry, inlaid wood, wooden caskets and cases for jewellery or cutlery, and similar articles and wooden furniture not classified in chapter 94, jointly accounting for 70.9% of total flows.

Structure of product's imports in value by countries, 2018-2021

World map of product's imports to Latvia in value, 2018-2021