Key Market Indicators
Latvia is set to witness significant growth in smart card exports and imports by 2026. By 2021, smart card exports totaled 4.9 million items, up 6.7% from 2012, with Portugal overtaking Latvia in the ranking. Germany, Spain, and the Netherlands were the top three countries in the ranking. Meanwhile, imports of smart cards in Latvia reached 15 million items in 2021, down 2.4% from 2012. Hungary overtook Latvia in the ranking, while the Netherlands, Spain, and France were the three top countries in the ranking. By 2026, exports of smart cards in Latvia are projected to reach 5.8 million items, growing at an average rate of 3% year-on-year. Imports of smart cards are projected to reach 16.2 million items, growing at an average rate of 1.3% year-on-year.
