Latvia offers substantial opportunities for the bio-based industry. Situated on the banks of the Baltic Sea, Latvia’s landscape is mostly plains and undulating midlands. Roughly half of the country is covered by forests, while around a quarter of the country is agricultural land.
Agriculture, forestry and chemical industries are among the strong drivers of Latvia’s economy. Also present are a healthy blue economy, food and beverages, food-processing and wood-processing industries. Despite being mostly a services economy (80% of GDP) and having a highly urbanised population (76%), agriculture and forestry still play an important role in the country’s economy, accounting for 4% of GDP and 7% of employment (higher than the EU average).
These industries are a sound basis for a bio-based industry in Latvia. The presence of a well-organised innovation support infrastructure contributes to a significant list of ingredients for a sustainable bio-based sector. In addition, the country was the first among the Baltic states to issue a bioeconomy strategy that should be great support for local, regional and national bio-based operations.
Click on the link above to consult the report and get the full perspective on Latvia's bio-based potential.
An Latvian language version of the Executive Summary can be consulted here.
The national press release in Latvian announcing the launch of the report can be consulted here.