Key Market Indicators
Latvia's musical instrument exports are expected to reach $4.6 million by 2026, up from $3.7 million in 2021, with a 3.4% year-on-year growth rate. Since 1999, exports have grown by 12.9% annually. In 2021, Latvia ranked 42nd, with Pakistan coming in first at $3.7 million. Germany, the United States, and Japan came in 2nd, 3rd, and 4th, respectively. Latvia's musical instrument imports are set to reach $7.4 million by 2026, up from $6.4 million in 2021, growing at an average of 2.5% year-on-year. Since 1999, imports have grown by 5.9% annually. In 2021, Latvia was 57th in the rankings, with Kazakhstan coming in first at $6.4 million. Germany, China, and Japan came in 2nd, 3rd, and 4th respectively.