Observations of the net ecosystem exchange of water and CO 2 were made during two seasons in 2000 and 2001 above a Larch forest in Far East Siberia (Yakutsk). The measurements were obtained by eddy correlation. There is a very sharply pronounced growing season of 100 days when the forest is leaved. Maximum half hourly uptake rates are 18 µmol m −2 s −1 ; maximum respiration rates are 5 µmol m −2 s −1 . Net annual sequestration of carbon was estimated at 160 gCm −2 in 2001. Applying no

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... for low friction velocities added 60 g C m −2 . The net carbon exchange of the forest was extremely sensitive to small changes in weather that may switch the forest easily from a sink to a source, even in summer. June was the month with highest uptake in 2001. The average evaporation rate of the forest approached 1.46 mm day −1 during the growing season, with peak values of 3 mm day −1 with an estimated annual evaporation of 213 mm, closely approaching the average annual rainfall amount. 2001 was a drier year than 2000 and this is reflected in lower evaporation rates in 2001 than in 2000. The surface conductance of the forest shows a marked response to increasing atmospheric humidity deficits. This affects the CO 2 uptake and evaporation in a different manner, with the CO 2 uptake being more affected. There appears to be no change in the relation between surface conductance and net ecosystem uptake normalized by the atmospheric humidity deficit at the monthly time scale. The response to atmospheric humidity deficit is an efficient mechanism to prevent severe water loss during the short intense growing season. The associated cost to the sequestration of carbon may be another explanation for the slow growth of these forests in this environment.