Key Market Indicators
Latvia's jewelry export market is projected to soar to approximately €16 million by 2028, up from €12 million in 2023, marking an annual growth rate of 5.3%. Since 2009, the country's jewelry supply has seen a robust increase of 14.7% year on year. In 2023, Latvia ranked 20th globally, with Luxembourg surpassing it at around €12 million. Italy, the United Kingdom, and France secured the second, third, and fourth positions, respectively. On the import front, Latvia's jewelry imports are expected to rise to nearly €32 million by 2028 from €29 million in 2023, growing at an average annual rate of 1.5%. However, since 2009, the country's demand has decreased by 4% annually. In 2023, Latvia stood at 26th place, with Slovenia leading at approximately €29 million. The United Kingdom, France, and Italy held the second, third, and fourth spots in this ranking. Latvian jewelry sales are anticipated to reach €2.6 million by 2028 from €2.5 million in 2023, reflecting a modest annual growth of 0.8%. Since 2013, the market has witnessed an annual increase of 1.7%. In a slightly different dataset, Latvian jewelry sales are also projected to hit €3.5 million by 2028, up from €2.8 million in 2023, with a yearly growth rate of 3.1%. Since 2015, the market has expanded annually by 4%.
