Key Market Indicators
Latvian transportation expenditure is projected to hit €3 billion by 2028, up from €2.7 billion in 2023. This marks an average annual growth of 1.9%. Over the past two decades, Latvian demand has surged by 4.6% annually. In 2023, Latvia ranked 28th in transportation expenditure, with Luxembourg surpassing it at €2.7 billion. The United Kingdom, France, and Italy held the second, third, and fourth spots, respectively. Meanwhile, Latvian transportation revenue is expected to reach €2.7 billion by 2028, rising from €2.5 billion in 2023. This represents a compound annual growth rate (CAGR) of 1.5%. Since 2000, the Latvian market has grown by 1.7% annually. In 2023, Latvia ranked 16th in transportation revenue, with Luxembourg again ahead at €2.5 billion. France, Italy, and Spain occupied the second, third, and fourth positions, respectively.
