Machinery and transport equipment in Latvia
Latvia: Machinery and transport equipment was 10.8% in 2023. ▲ Rising
Machinery and transport equipment in Latvia, 1993–2023
Source: International Yearbook of Industrial Statistics, UN Industrial Development Organization (UNIDO). Measured in % of value added in manufacturing.
Analysis
In 2023, machinery and transport equipment in Latvia stood at 10.8%.
Compared with earlier readings it is up 20.6% on the previous year and down 27.2% over ten years.
Over the whole period, machinery and transport equipment in Latvia peaked at 16.9% in 2017 and was at its lowest, 7.2%, in 2021.
Latvia ranks 66th of 149 countries on this measure, in the middle of the range.
The long-run direction has been consistently rising across the 31 years of available data.
Machinery and transport equipment in Latvia, year by year
| Year | % of value added in manufacturing | Change |
|---|---|---|
| 1993 | 16.1% | — |
| 1994 | 16.0% | -0.2% |
| 1995 | 15.3% | -4.7% |
| 1996 | 12.3% | -19.7% |
| 1997 | 8.7% | -28.9% |
| 1998 | 8.3% | -5.4% |
| 1999 | 7.5% | -9.7% |
| 2000 | 7.8% | +5.0% |
| 2001 | 8.5% | +9.2% |
| 2002 | 7.4% | -13.7% |
| 2003 | 7.9% | +7.2% |
| 2004 | 8.7% | +9.5% |
| 2005 | 8.6% | -1.0% |
| 2006 | 8.5% | -0.7% |
| 2007 | 9.7% | +14.3% |
| 2008 | 15.5% | +59.7% |
| 2009 | 15.6% | +0.2% |
| 2010 | 13.4% | -13.7% |
| 2011 | 14.6% | +9.0% |
| 2012 | 15.5% | +6.1% |
| 2013 | 14.8% | -4.6% |
| 2014 | 15.2% | +2.4% |
| 2015 | 16.3% | +7.5% |
| 2016 | 15.8% | -3.3% |
| 2017 | 16.9% | +7.4% |
| 2018 | 14.7% | -13.4% |
| 2019 | 9.2% | -37.1% |
| 2020 | 8.7% | -6.0% |
| 2021 | 7.2% | -16.6% |
| 2022 | 8.9% | +23.6% |
| 2023 | 10.8% | +20.6% |
Latvia compared with similar countries
- Latvia's 10.8% is below the median for high income countries, which is 20.4%, 53% of the median. (56 countries reporting)
- Latvia's 10.8% is below the median for Europe & Central Asia, which is 18.9%, 57% of the median. (47 countries reporting)
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1990s | 12.0% | 7.5% | 16.1% | 7 |
| 2000s | 9.8% | 7.4% | 15.6% | 10 |
| 2010s | 14.7% | 9.2% | 16.9% | 10 |
| 2020s | 8.9% | 7.2% | 10.8% | 4 |
Countries ranked near Latvia
- 63 United Arab Emirates 12.2% compare
- 64 Switzerland 11.1% compare
- 65 Nicaragua 10.9% compare
- 67 Montenegro 10.1% compare
- 68 Uzbekistan 9.6% compare
- 69 Bosnia and Herzegovina 9.0% compare
More economy & growth data for Latvia
- Foreign direct investment, net outflows (BoP, current US$), gaps 317.22 million BoP, current US$ (2025)
- Foreign direct investment, net outflows (BoP, current US$), per unit 0.0065 BoP, current US$ per US$ of GDP (2025)
- Foreign direct investment, net outflows (BoP, current US$), per capita 171.67 BoP, current US$ per person (2025)
- Foreign direct investment, net inflows (BoP, current US$), gaps filled 243.70 million BoP, current US$ (2025)
- Foreign direct investment, net inflows (BoP, current US$), annual -83.9 % change on previous year (2025)
- Foreign direct investment, net inflows (BoP, current US$), per unit 0.005 BoP, current US$ per US$ of GDP (2025)
- Foreign direct investment, net inflows (BoP, current US$), per capita 131.89 BoP, current US$ per person (2025)
- Total reserves (includes gold, current US$), annual growth rate 18.65 % change on previous year (2025)
- Total reserves (includes gold, current US$), per unit of GDP 0.1255 includes gold, current US$ per US$ of GDP (2025)
- Total reserves (includes gold, current US$), per capita 3,301 includes gold, current US$ per person (2025)
Frequently asked questions
- What is machinery and transport equipment in Latvia?
- Machinery and transport equipment in Latvia was 10.8% in 2023, according to International Yearbook of Industrial Statistics, UN Industrial Development Organization (UNIDO).
- What is the highest machinery and transport equipment recorded in Latvia?
- The highest recorded value was 16.9% in 2017.
- What is the lowest machinery and transport equipment recorded in Latvia?
- The lowest recorded value was 7.2% in 2021.
- How does Latvia rank for machinery and transport equipment?
- Latvia ranks 66th out of 149 countries with data for 2023.
- Is machinery and transport equipment rising or falling in Latvia?
- Over the last ten years it is down 27.2%. The long-run trend across the full record is rising.
- Where does this Latvia data come from?
- The figures come from International Yearbook of Industrial Statistics, UN Industrial Development Organization (UNIDO), published as part of Machinery and transport equipment (% of value added in manufacturing). Statizoid updates them automatically from the source API.
Download this data
CSV · JSON — 31 observations, free to reuse under CC BY 4.0 (World Bank Open Data).
About this data
Machinery and transport equipment manufacturing includes industries classified in ISIC (Rev. 3) divisions 29-35. Value added is the contribution to the economy by a producer or an industry or an institutional sector, which is estimated by the total value of output produced and deducting the total value of intermediate consumption of goods and services used to produce that output. This indicator is expressed as a percentage of value added in manufacturing which is the contribution to the economy by the manufacturing sector (ISIC Rev. 3 major division D).