Wooden bedroom furniture market in Latvia

Earlier Report Observations

The market for wooden bedroom furniture in Latvia expanded from $14.0 million in 2018 to $17.6 million in 2020. This growth was fueled by increased demand during the COVID-19 pandemic, as lockdowns led to higher spending on home furnishings. Producers cleared warehouse stocks and secured production slots months in advance. Concurrently, companies like SIA “GBM” and SIA “BS-HOLZ” invested in modern equipment and factory upgrades, which bolstered overall production capacity.

A contraction followed, with the market falling to $15.6 million in 2021 and $14.6 million in 2022. Supply chain chaos and soaring costs for materials like oak lumber pressured manufacturers' margins. The decline accelerated after the EU banned imports of timber and wood products from Russia and Belarus in 2022, disrupting raw material supplies and leading to reduced orders and lower export income, particularly for wooden bedroom furniture.

The market stabilized thereafter, reaching $15.0 million in 2024. Manufacturers adapted by simplifying furniture designs to lower production costs and increase speed. The industry also saw more clustering, as producers joined forces to target export markets collectively. Although export revenues dropped by over 20% in 2023 due to geopolitical and economic headwinds, these adjustments and a sustained consumer preference for sustainable, natural furniture supported a modest recovery.

Production wooden bedroom furniture in Latvia

In value, 2018-2021, K $ US

In 2021, Latvia's wooden bedroom furniture production was valued at 15 109 thousand US dollars, marking a significant 13.4% decrease compared to 2020. Production peaked in 2020 at 17 449 thousand US dollars, which also saw the largest annual increase of 10.6%. Over the period from 2018 to 2021, production declined by 5.9%, averaging an annualized decrease of 2.0%.

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

In kind, 2018-2021, K unit

Wooden bedroom furniture production in Latvia declined for the third consecutive year. In 2021, Latvia produced 81.4 thousand units, a 28.3% drop from the previous year. From 2018 to 2021, production fell by 35.8%, with an average annualized decline of 13.7%.

Annual dynamics of production in Latvia in kind, 2018-2021, K unit

Exports wooden bedroom furniture from Latvia

Exports in kind, K unit

After two years of growth, Latvia's wooden bedroom furniture exports declined in 2021. The country exported 112.6 thousand units, a notable 20.7% decrease compared to 2020. Exports reached their highest point in 2020 at 142.0 thousand units, which also recorded the largest annual increase of 25.5%. Over the 2018-2021 period, exports grew by 15.6%, averaging an annualized increase of 5.0%.

Annual dynamics of product's exports from Latvia in kind, 2018-2021, K unit

From 2018 to 2021, France, the United Kingdom, and Estonia were the main markets for Latvia's wooden bedroom furniture exports in kind. France accounted for 28.1% of exports, the United Kingdom for 20.8%, and Estonia for 20.3%. Together, these three countries represented 69.3% 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 wooden bedroom furniture exports in value terms increased for the second consecutive year. In 2021, exports amounted to 9 568 thousand US dollars, a gradual 3.7% rise compared to 2020. The lowest value was recorded in 2019 at 7 715 thousand US dollars, which also saw the largest annual decline of 9.7%. In contrast, 2020 experienced the largest increase of 19.6%. Over the 2018-2021 period, exports grew by 12%, with a compound annual growth rate of 3.9%.

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

From 2018 to 2021, France, the United Kingdom, and Estonia were the primary destinations for Latvia's wooden bedroom furniture exports in value terms. France represented 27.7% of exports, the United Kingdom 21.0%, and Estonia 20.1%. Combined, these three countries accounted for 68.9% of total export flows.

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

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

Imports wooden bedroom furniture to Latvia

Imports in kind, K unit

After two years of growth, Latvia's imports of wooden bedroom furniture in kind declined in 2021. Imports totaled 78.1 thousand units, a strong 14.2% decrease from the previous year. Imports peaked in 2020 at 91.1 thousand units, which also saw the largest annual increase of 53.4%. Over the 2018-2021 period, imports increased by 44.7%, averaging an annualized growth of 13.1%.

Annual dynamics of product's imports to Latvia in kind, 2018-2021, K unit

From 2018 to 2021, Poland, Belarus, and Lithuania were the main sources for Latvia's wooden bedroom furniture imports in kind. Poland accounted for 39.4% of imports, Belarus for 8.5%, and Lithuania for 7.8%. Together, these three countries made up 55.7% 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

Latvia's imports of wooden bedroom furniture in value terms increased for the third consecutive year. In 2021, import volume reached 10 035 thousand US dollars, a modest 7.4% gain compared to the previous year. Over the 2018-2021 period, imports grew by 53.6%, with a compound annual growth rate of 15.4%.

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

From 2018 to 2021, Poland, Belarus, and Lithuania accounted for the largest share of Latvia's wooden bedroom furniture imports in value terms. Poland represented 39.5% of imports, Belarus 8.6%, and Lithuania 7.8%. Together, these three countries comprised 55.9% of total import flows.

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

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