Forest accounts 2023

The Natural Resources Institute Finland (Luke) has started publishing forest accounts statistics. In 2023, the value of of the growing stock (incl. deadwood) stood at 123 billion euros, and the value of bare forest land at 50 billion euros.

With the expansion of the EU regulation on Environmental Accounting, all member states must submit annually forest accounts data to the European Union. Forest accounting forms a statistical system covering EU member states. The statistical data are comparable between countries.

Key figures from the Forest Accounts Statistics for 2023

The economic aggregates of the forestry and logging industry 

• forestry and logging industry total output at basic prices 6780* EUR mill, of which roundwood 1393* EUR mill. €

*preliminary estimates

Areas, tree volumes and monetary values

• Forest area 22,5 mill. ha, of which available for wood supply19,2 mill. ha
• Growing stock volume (incl. deadwood) in forests 2638 mill. m3, of which on area available for wood supply 2309 mill. m3
• The monetary value of forest land (without timber stock) 50 EUR billion, of which on area available for wood supply 46 EUR billion
• The value of growing stock in forests (incl. deadwood) 123 EUR billion, of which on area available for wood supply 110 EUR billion

Supply and use of wood in the rough

• Supply of wood in the rough 76 081 mill. m3
• Use of wood in the rough 76 438 mill. m3

Statistical background

The forest accounts figures are mainly based on existing statistics. Calculating the monetary value of forest area and timber stocks separately produce new statistical information. The monetary value of bare land is calculated by using the MOTTI stand-level analysis tool and decision support system for forest management. MOTTI simulates the development of the forest from a starting point where there are no trees, and it produces net present values for forests of the different site fertility classes and regions. Discount rate of three percent is used. NFI produces the area estimates needed for the calculation.

The value of the growing stock is based on VMI data and price statistics. The value of the growing stock is theoretical and does not reflect the realizable timber.

Statistics Finland produces the economic aggregates of the forestry and logging industry. Estimates are based on national accounts.