Russian timber exports increased by 25% in 2001, earning the country US$4.3bn in foreign currency revenues.
But the poor financial situation of companies led to a 16.7% drop in industry investment compared to 2000. Timber industry output totalled US$6.85bn in 2001, while the lumber industry recorded losses of US$12.27m, with 56% of companies in the red.
The Russian union of timber producers and exporters expects output to increase three or fourfold by 2015 and foreign currency revenues to grow by four and-a-half times.