Key Market Indicators
Latvia's IT services export market is projected to experience significant growth, reaching approximately €2.6 billion by 2028. This marks an increase from around €1.94 billion in 2023, with an annual compound growth rate (CAGR) of 4.6%. Since the turn of the millennium, Latvia's IT services export supply has surged, posting an impressive average annual growth rate of 9.1%. In 2023, Latvia occupied the 28th position in the global ranking for IT services exports. Notably, Slovenia edged past Latvia with similar export figures, also at €1.94 billion. In the broader European context, the top spots for IT services exports were held by France, the United Kingdom, and Italy, which secured the second, third, and fourth positions respectively.
