Key Market Indicators
**Latvian Lighting Sales Projected to Surge by 2028** RIGA - The Latvian lighting market is on an upward trajectory, with sales expected to soar to approximately €42 million by 2028, up from around €27 million in 2023. This represents an average annual growth rate of 6.5%. Over the past decade, the market has shown a robust annual increase of 14.1%. In 2023, Latvia ranked 24th in the global lighting market, with Bulgaria slightly ahead at the same €27 million mark. Leading the pack were the Netherlands, Italy, and the Czech Republic, occupying the second, third, and fourth spots, respectively. **Steady Growth in Latvian Lighting Exports** RIGA - Latvian lighting exports are also set for growth, projected to reach $18 million by 2028, up from nearly $15 million in 2023. This marks an average annual growth rate of 3%. Since 1999, the country's lighting supply has been increasing at an annual rate of 3.6%. **Incremental Rise in Latvian Lighting Imports** RIGA - On the import front, Latvia's lighting market is expected to see a gradual rise, reaching approximately $21 million by 2028, up from about $19 million in 2023. This equates to an average annual growth rate of 1.3%. The demand for lighting imports in Latvia has been growing at a steady pace of 1.3% per year since 1999.
