Key Market Indicators
Latvia's computer hardware revenue is projected to climb to approximately €7 million by 2028, up from €6 million in 2023. This represents an average annual growth rate of 2.9%. The Latvian market has seen an annual increase of 4.2% since 2014. In 2023, Latvia ranked 25th in the global market, with Bosnia and Herzegovina surpassing it at €6 million. Leading the rankings are Germany, the United Kingdom, and Italy, taking the second, third, and fourth spots, respectively. On the export front, Latvia's computer hardware exports are expected to grow to $25 million by 2028, up from $21 million in 2023. This growth reflects a compound annual growth rate (CAGR) of 2.1%. Since 1999, Latvian exports have seen a year-on-year increase of 3.2%. In terms of imports, Latvia's computer hardware imports are forecasted to reach nearly $45 million by 2028, rising from $41 million in 2023. This marks an average annual growth rate of 1.5%. Latvian demand for computer hardware has increased by 2.1% annually since 1999.
