Key Market Indicators
Latvia's clothing expenditure is poised to hit €1.1 billion by 2028, up from approximately €960 million in 2023, marking an average annual growth rate of 2.2%. This upward trend has been notable since 2000, with demand increasing by 7.9% year on year. In 2023, Latvia ranked 27th in terms of clothing expenditure, with Luxembourg surpassing it at the same €960 million mark. Germany, Italy, and France secured the second, third, and fourth spots, respectively. Conversely, Latvian apparel sales are projected to remain relatively flat, reaching an estimated €158 million by 2028, a slight dip from the €159 million recorded in 2023. This stagnation reflects a consistent year-on-year decline of 0% on average since 2010, with the market shrinking by 1.1% annually over this period. In 2023, Latvia ranked 28th for apparel sales, with Estonia moving ahead at €159 million. Germany, France, and Spain held the second, third, and fourth positions in this category as well.
