Key Market Indicators
Exports of alcoholic beverages from Latvia are set to reach almost $956 million by 2026, up from $803 million in 2021, at a compound annual growth rate (CAGR) of 2.9%. Since 1999, supply has risen 13.1% on average annually. Imports of alcoholic beverages to Latvia are expected to reach $901 million by 2026, up from $745 million in 2021, at a CAGR of 3.2%. Since 1999, demand has increased 13.7% on average each year. In 2021, Latvia was ranked 29th, overtaken by Malaysia at $745 million. The UK, Germany and China came in second, third and fourth respectively. Sales of alcoholic beverages in Latvia are forecast to reach around $519 million by 2026, down from $525 million in 2021, at an average annual rate of -0.2%. Since 1998, the market has risen 0.6% each year. In 2021, Latvia was ranked 75th, overtaken by Zambia at $525 million. Japan, Germany and the UK came in second, third and fourth respectively.
