The Baltic region is considered to be one of the fastest growing economic regions in Europe. At the heart of it of course, there’s Latvia and its very strong transportation industry. The success of this sector comes because of a few main reasons.

One of them is the great geographical location, which gives access to both Western European and Russian markets. Also the infrastructure itself which includes ports that don’t freeze, railway connections and air transport sections that are growing rapidly. Lastly, the labor force itself is very competent and can help effectively take care of everything.

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Below, we will talk about the transportation industry of Latvia more in-depth.

The main advantages of Latvia’s transportation industry

  • Great infrastructure involving railways, ports and air travel.
  • Access to European and Russian markets
  • Ports that are ice-free all year long
  • A very competent labor force
  • Part of a historic trade gateway

The Latvian region has been an important trade route since the middle ages, the time of the Hanseatic League. Despite quite a challenging history, the country managed to revitalize its transportation industry since the country regained its independence in the early 1990s.

Since then, many parts of the transportation industry have grown there significantly including the railway, port as well as the air transport. In recent years, the importance of Latvia as a link for the transition of goods between Western Europe, Russia and the far east Asian countries has grown even more.

Such growth was partially because of Latvia’s strong position and membership at the EU. Incoming investments ensured that the region became an access-point to the borderless Schengen zone for outside markets.

In terms of GDP, the transportation industry contributes to about 8.2 percent according to 2019 data. What makes it a special region is the fact its very diverse with export coming through road, sea, railway and air channels.

Latvia as a logistics location

It would be true to consider Latvia as one of the great locations for business establishment. Riga itself being the largest city in the Baltic States and an economic stronghold, businesses here will have an ideal spot for trade between east and west as Latvia has a border access to Russia.

Brands like Michelin, Siemens and Nokia are just a few world-known businesses that have large distribution centers in Latvia, further proving the importance of the Latvian transport industry.

All in all

We’ve talked about the transportation industry in Latvia. It can be said that it is one of the fastest growing and most important trade routes in the Baltic region, with businesses having access to Asian, Russian and of course, Western European markets for transportation of goods.