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Timber sector 'will lead Latvian recovery'
29.05.2009	Send to a friend     Contact us
The timber sector will help lead Latvia into recovery, according to one expert. Speaking to the LETA news agency, Andris Villks, chief economist at the SEB bank, predicted signs of improvement should come as soon as the third quarter of this year, the Baltic Course reported. He said: "Exports will be the first to show signs of growth, which will be followed by an increase in domestic demand and imports." The fact that timber and metal working are two of the country's major export markets will mean that these two sectors will be the first to show signs of growth, Mr Villks added. Recently, Reuters reported that the Latvian central bank had cut its gross domestic product prediction to a 16.5 per cent fall as the economic climate worsened. It had originally estimated that a decline of 12 per cent would be seen in 2009, but a poor first quarter to the year changed its mind. This news item is brought to you by KMS Baltics in conjunction with Fest-Forest and EST KINNISVARA. Baltic forestry and property specialists. Click here to find out more about Timber Investment with us or call us on 00441668 213693.

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