1. Sustainable Forestry & Advanced Wood Processing

Latvia is one of the most forest-rich countries in Europe, enabling a strong value chain in sustainable forest management, engineered wood products, biochemicals and high-value biomaterials.

2. Agriculture & Smart Farming Technologies

A resilient agricultural sector supported by precision-farming solutions, digital monitoring systems and climate-adaptive crop practices that increase productivity while reducing environmental impact.

3. Fisheries & Aquaculture

A modernised, sustainably managed fisheries sector with growing investment in aquaculture, fish processing technologies and marine biotechnology.

4. Food Processing & Next-Generation Protein Production

Latvia’s food industry is rapidly expanding into functional foods, nutraceuticals and innovative protein alternatives—including the development of a next-generation bioeconomy protein plant (ASN) focused on low-emission, high-efficiency production.

5. Bio-based Chemicals, Biorefineries & Green Materials

A growing ecosystem of companies and research institutions developing bioplastics, lignin- and cellulose-based materials, natural extracts and renewable chemical compounds.

6. Biotechnology & Life Sciences for Bioeconomy

A strong science base—supported by the University of Biotechnology and leading research institutes—advances innovations in microbial technologies, fermentation processes, sustainable enzymes and CO₂-reducing bioproducts.

• 54% of Latvia’s territory is covered by forests — one of the highest ratios in Europe.

• Bioeconomy contributes over 20% to Latvia’s national exports.

• Latvia ranks among the TOP 3 EU countries in renewable resource utilisation.

• More than 1,000 bioeconomy-related companies operate across forestry, agriculture, fisheries, biotechnology and food processing.

• Latvia is developing a next-generation protein production plant (ASN) to accelerate sustainable food innovation.

• Collaboration with the University of Biotechnology drives new low-emission, high-efficiency protein and biomass solutions.

• Latvia’s wood-processing sector is one of the largest exporters in the Baltics, covering engineered wood, biochemicals and advanced materials.

• Agriculture employs precision farming technologies across 40%+ of cultivated land.

• Fisheries and aquaculture exports reach over 100 markets worldwide.

• Bioplastics, lignin-based materials and natural extracts are among Latvia’s fastest-growing bio-based innovation fields.

Overall Bioeconomy

• Bioeconomy accounts for approx. 14–16% of Latvia’s GDP.

• More than 20% of all national exports come from bioeconomy-related industries.

• The sector employs around 130,000+ people, representing a significant share of the national workforce.

Forestry & Wood Processing

• Forests cover 54% of Latvia’s territory (among the highest in the EU).

• The wood industry contributes ~6% of GDP and remains one of Latvia’s largest export sectors.

• Over 70% of forestry output is exported, with engineered wood and high-value bio-based materials showing the fastest growth.

Agriculture & Food Production

• Agriculture represents ~3% of GDP, with food processing adding another 2.5–3%.

• More than 60% of agricultural production is exported.

• Latvia’s food industry includes over 2,000 companies, from dairy and grain processors to functional foods and biotech-driven innovations.

• Precision farming technologies cover over 40% of cultivated land.

Fisheries & Aquaculture

• Fisheries and aquaculture contribute ~1% of GDP, with a strong footprint in exports to 100+ markets worldwide.

• Aquaculture is one of the fastest-growing subsegments, driven by sustainable production methods and new technologies.

Biotechnology & Bio-based Innovation

• Latvia hosts 40+ research institutions and biotech-oriented labs working on bioproducts, sustainable materials, enzymes and fermentation technologies.

• R&D investment in life sciences and bioeconomy-related fields has increased by more than 20% in the last five years.

• The emerging ASN next-generation protein plant is expected to become one of the largest sustainable protein production investments in the region.

• The bioeconomy (forestry, agriculture, food processing, biotechnology) is one of Latvia’s largest employment sectors, supporting tens of thousands of jobs nationwide.

• The forest-based industries provide high-value jobs across regions, including forestry operations, wood processing, engineered materials, furniture manufacturing, logistics and support services.

• Latvia has a strong tradition in forestry and wood science, backed by specialised education and research institutions.

• The Latvia University of Life Sciences and Technologies (LLU), the University of Latvia, and the Latvian State Forest Research Institute “Silava” offer programmes in forestry, wood processing, biology, biotechnology, and environmental sciences.

• Industry–academia collaboration ensures a continuous supply of skilled engineers, forest managers, biotechnologists and material scientists.

• Training increasingly focuses on digital forestry technologies, precision harvesting, sustainable resource management and bio-based innovation.

• Research strengths include biomaterials, biotechnology, CO₂-reducing processes, and sustainable production systems aligned with Latvia’s climate goals.

• Latvijas Finieris

  • One of the Baltic region’s leading birch plywood producers, focusing on high-value engineered wood products.

  • International footprint with production facilities in Latvia, Lithuania, Estonia and Finland, and product development & sales companies across Europe and overseas.

  • Group turnover exceeded €400 million in 2024 (latest publicly available annual report).

  • Products sold in 60+ countries worldwide.

• Latvia’s State Forests (LVM)

  • The state-owned enterprise responsible for sustainable management of Latvia’s public forests.

  • Employs more than 1,400 people across the country.

  • Annual turnover is around €400 million (based on recent reporting).

  • Ensures long-term forest value growth and a stable, sustainable timber supply for the national economy.

• Cross Timber Systems

  • A major regional producer of Cross-Laminated Timber (CLT) for sustainable construction.

  • Known for cost-efficient, low-waste and time-saving building solutions.

  • Production capacity reaches approximately 25,000 m³ per year.

• Latgran (part of Graanul Invest Group)

  • One of Latvia’s largest industrial wood pellet manufacturers.

  • Operates four pellet plants and employs over 120 people.

  • Annual production exceeds 500,000 metric tonnes of environmentally friendly, chemical-free wood pellets.

• Stora Enso

  • One of the world’s leading renewable materials companies, present in 30 countries with about 26,000 employees globally.

  • In Latvia, the company operates a sawmill and a packaging materials factory, supplying Nordic and European markets.

• Kronospan

  • A global leader in wood panel manufacturing with more than 40 production sites worldwide and 14,000 employees.

  • Operating in Latvia since 2005, where it has grown into one of the country’s significant wood-processing companies.

  • Annual turnover of the Latvian operations reaches over €230 million.

 The food and beverage production sectors in Latvia offer a full spectrum of opportunities for investors, supported by a robust supply chain, an experienced workforce, and consistently high-quality standards. Domestic producers maintain strong control over every stage of the production cycle — from raw ingredients and processing to final market entry — ensuring the freshness, traceability, and natural quality that today’s consumers value most.

Latvia’s clean environment, strong agricultural base, and commitment to sustainability make it an attractive destination for developing innovative food products, functional foods, and next-generation bioeconomy solutions.

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