Mechanical and electronic engineering accounts for at least 21% of the country’s total industry and employs at least 24,000 permanent staff members. The fastest growing niches are the production of machinery, mechanical and electronic equipment, and metal products. Demand for newer technologies such as robotics, artificial intelligence and engineering prototyping has been growing rapidly in recent years.
There is demand for Latvian products from neighbouring countries and other economic zones: Estonia, Lithuania, Denmark, Sweden, Germany, Russia, the UK, Norway, France, Belgium, and the USA. Our companies mostly export mechanical and electronic equipment, metal parts and structures.
Investors choosing to finance metalworking, mechanical engineering, and electronics are usually from Scandinavia, Germany, or France, and invest EUR 5-20 million on average. They often contemplate buying an existing company, transferring their production skills to Latvia, or investing in the modernisation of local production facilities.
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