Forest accounts 2024

In 2024, the value of the growing stock (incl. deadwood) stood at 139 EUR billion, and the value of bare forest land at 50 EUR billion. The value of growing stock increased 16 EUR billion from the previous year. The change was due almost exclusively to the rise in stumpage prices of roundwood. The value of bare land changed only slightly from the preceding year.

The Natural Resources Institute Finland (Luke) started compiling new forest accounting statistics a year ago, when the EU mandated that all member states should submit annual forest accounting data to EU. Forest accounting forms a statistical system covering all EU member states. The statistics are also comparable between countries.

Key figures from the Forest Accounts Statistics for 2024

Areas, tree volumes and monetary values

• Forest area 22,4 mill. ha, of which available for wood supply 19,2 mill. ha
• Growing stock volume (incl. deadwood) in forests 2652 mill. m3, of which on area available for wood supply 2325 mill. m3
• The monetary value of forest land (without timber stock) 50 EUR billion, of which on area available for wood supply 47 EUR billion
• The value of growing stock in forests (incl. deadwood) 139 EUR billion, of which on area available for wood supply 124 EUR billion

Supply and use of wood in the rough

• Supply of wood in the rough 78.2 mill. m3
• Use of wood in the rough 77.4 mill. m3

The economic aggregates of the forestry and logging industry 

• The total output of forestry and logging industry at basic prices 7615* EUR mill, of which roundwood 1495* EUR mill. €

*preliminary estimates

The forest accounting data produced by Luke are based on data from the National Forest Inventory (NFI), forest statistics, and foreign trade statistics. Wooded land: The definitions of the Food and Agriculture Organization of the United Nations (FAO) are used. Wooded land is divided into 1) forest and 2) other wooded land.

The monetary value of bare land is calculated by using 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 stumpage price statistics. The value of the growing stock is theoretical and does not reflect the realizable timber.

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