The Latvian truck market has faced fluctuation over the past decade, with the market size value in 2023 at 245.3 million US Dollars. Significant changes occurred yearly, including a sharp decline in 2020 followed by a recovery in subsequent years. Over the previous five years, the compound annual growth rate indicated a decline of 1.51%, reflective of economic challenges and recovery attempts. The last two years showed stabilization with minor fluctuations in growth.
Future trends to watch for include the impact of global supply chain disruptions, advancements in green technology, and potential regulatory changes. These trends could significantly influence market dynamics and growth opportunities moving forward.
| # | 31 Countries | US Dollars | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 France | 35,368,000,000 | 2023 | +1.82% | +0.71% | View data |
| 2 | 2 United Kingdom | 31,707,000,000 | 2023 | +1.38% | +1.29% | View data |
| 3 | 3 Brazil | 22,772,000,000 | 2023 | -1.5% | -2.03% | View data |
| 4 | 4 Japan | 19,967,000,000 | 2023 | -3.63% | -4.09% | View data |
| 5 | 5 Italy | 17,159,000,000 | 2023 | +0.39% | -0.99% | View data |
| 26 | 26 Bosnia and Herzegovina | 297,200,000 | 2023 | +2.04% | +2.46% | View data |
| 27 | 27 Luxembourg | 268,820,000 | 2023 | +1.55% | +1.22% | View data |
| 28 | 28 Latvia | 245,300,000 | 2023 | -0.058% | -1.51% | |
| 29 | 29 Benin | 153,110,000 | 2023 | +2.52% | +1.11% | View data |
| 30 | 30 Barbados | 75,109,000 | 2023 | +4.81% | +3.78% | View data |
