Key Market Indicators
Latvia's manufacturing output is projected to soar to €22.8 billion by 2028, up from €16.4 billion in 2023. This marks a steady annual growth rate of 5.2%. Since the turn of the millennium, Latvia has seen an impressive year-on-year supply increase of 11.5%. In 2023, Latvia ranked 29th globally in manufacturing output. Neighboring Estonia surpassed Latvia with a matching output of €16.4 billion. The top spots in the manufacturing output rankings were claimed by Italy, France, and Spain, securing the second, third, and fourth positions respectively.
