Wooden office furniture market in Latvia

Earlier Report Observations

Following industry restructuring toward smaller, flexible firms and customized production, the Latvian wooden office furniture market contracted in 2019. The COVID-19 pandemic reversed this trend in 2020, as manufacturers sold warehouse stock and filled capacity ahead of demand, helping lift the market value to 12.9 million USD. Supply chain disruptions also contributed to rising raw material costs, influencing overall market prices.

Post-pandemic recovery and increased demand for wood products supported further growth in 2021. A sharp jump to 17.9 million USD in 2022 was driven by the EU Timber Regulation taking effect, which banned imports of illegal timber from Russia and Belarus and boosted demand for compliant local production. Simultaneously, rising material costs due to sanctions and supply chain issues, alongside growing consumer preference for ergonomic and sustainable furniture, increased the market's monetary value.

The market peaked at 19.2 million USD in 2023, fueled by the shift to hybrid work models, which raised demand for ergonomic and space-efficient office furniture. In 2024, however, the market declined to 15.6 million USD as the EU Timber Regulation began applying to medium and large enterprises, raising compliance costs, while geopolitical uncertainty weighed on business activity.

Production wooden office furniture in Latvia

In value, 2018-2021, K $ US

Latvia's wooden office furniture production has increased for the second consecutive year. In 2021, output reached 20,800 thousand US dollars, marking a 12.9% rise compared to 2020. Production grew by 17.6% between 2018 and 2021, equivalent to an annualized rate of 5.6%. The lowest value was recorded in 2019 at 14,850 thousand US dollars, which saw the largest decline of 16.0%. The most significant increase occurred in 2020, with a 24.0% jump.

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

In kind, 2018-2021, K unit

Latvia's wooden office furniture production has increased for the second consecutive year. In 2021, 194.8 thousand units were produced, showing a robust 14.1% rise compared to the previous year. Between 2018 and 2021, production grew by 16.1%, translating to an annualized rate of 5.1%. The lowest volume was recorded in 2019 at 149.8 thousand units, which experienced the largest decline of 10.7%.

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

Exports wooden office furniture from Latvia

Exports in kind, K unit

After two years of growth, Latvia's wooden office furniture exports declined. In 2021, exports stood at 149.9 thousand units, indicating a sharp 33.0% drop compared to 2020. Over the 2018-2021 period, exports decreased by 8.1%, with a compound annual growth rate of -2.8%. The highest volume was recorded in 2020 at 223.9 thousand units, while the largest increase occurred in 2019 with a 29.3% rise.

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

From 2018 to 2021, Sweden, Estonia, and Denmark were the main markets for Latvia's wooden office furniture exports in volume terms. Sweden accounted for 51.2% of exports, Estonia for 13.8%, and Denmark for 9.8%. Together, these three countries represented 74.8% 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 office furniture exports have increased for the second consecutive year. In 2021, exports reached 11,264 thousand US dollars, which is 14.6% higher than the previous year. Between 2018 and 2021, exports grew by 19.6%, equivalent to an annualized rate of 6.1%. The lowest value was recorded in 2019 at 9,401 thousand US dollars, which saw a slight decline of 0.2%.

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

From 2018 to 2021, Sweden, Estonia, and Denmark continued to be the top buyers of Latvia's wooden office furniture in value terms. Sweden accounted for 51.4% of exports, Estonia for 14.0%, and Denmark for 9.8%. Collectively, these three markets represented 75.2% of total export value.

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 office furniture to Latvia

Imports in kind, K unit

Latvia's wooden office furniture imports have declined for the third consecutive year. In 2021, imports stood at 54.3 thousand units, down by 33.5% compared to the previous year. Between 2018 and 2021, imports decreased by 89.4%, equivalent to an annualized rate of -52.7%.

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

From 2018 to 2021, Poland, Sweden, and Germany were the main sources of wooden office furniture imports to Latvia in volume terms. Poland accounted for 26.5% of imports, Sweden for 18.3%, and Germany for 12.6%. Together, these three countries represented 57.5% 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

In 2021, Latvia's wooden office furniture imports totaled 3,552 thousand US dollars, which is 17.2% lower than in 2020. Over the 2018-2021 period, imports decreased by 5.6%, with a compound annual growth rate of -1.9%. The highest value was recorded in 2020 at 4,290 thousand US dollars, which also saw the largest increase of 17.8%.

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

From 2018 to 2021, Poland, Sweden, and Lithuania were the key sources of wooden office furniture imports to Latvia in value terms. Poland accounted for 22.7% of imports, Sweden for 18.6%, and Lithuania for 10.3%. Together, these three countries represented 51.7% 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