Latvia’s wood and wood products sector has slowly recovered from the economic recession experienced before 2010. In 2014 the total volume of timber harvested remained at the level of previous year amounting to 11.7 million m3. Intensive changes are noticed in the prefabricated wood (panel) modular house production industry. Production capacities are focusing on growing demand in North European countries. Prefabricated house production expansion also is a positive influence for the carpentry industry. In 2015 Latvia imported U.S. $ 771.79 million worth of forestry products.