RIGA, Aug 10 (LETA) - Over the past ten years, the value of Latvian forests has increased by EUR 718 million or 14.5 percent, according to the Agriculture Ministry's report that was presented to the government on Tuesday.

The report says that the value of Latvia's forests is currently at EUR 5.668 billion or EUR 1,725 euros per hectare. Ten years ago, Latvian forests were worth EUR 4.95 billion or EUR 1,530 per hectare.

The report also states that more than 75 percent of forests in Latvia have at least two tree species and half of the forests have at least three tree species. In Europe, on the average two thirds of forests have more than two species of trees and half of the forests have at least three species.

In turn, in Northern European countries most of the forest stands consist of two to five tree species, and also in Latvia the proportion of such stands is slightly over 70 percent - this indicator has been stable for the last 15 years.