State and public services

Medicines production and sales account for 55% of the industry (249 companies with aggregate turnover of EUR 1.202 billion), healthcare – 34% (388 companies, EUR 750.780 million), trade in medical equipment and supplies – 12% (142 companies, EUR 243.559 million);
Latvian pharmaceutical companies export 90% of their output;

Business environment in Latvia

The economy of Latvia is a free market economy, it is regulated by appropriate laws, protecting commercial rights, trademarks and investments;
The requirements of the European Union are included in laws of Latvia;

Business environment in Lithuania

There were approximately 104,000 enterprises in Lithuania in early 2017.
Every year, the government of Lithuania strives to improve the country’s business environment; as a result, Lithuania regularly moves up in international ratings.

Transport and logistics

Even though the transport and logistics industry is one of the most important sectors of the national economy of Latvia, downturn is continuing in the sector because of the uncertain situation in Europe and tensions with Russia. Year on year, the proportion of transport and warehousing in the total gross domestic product decreased 0.5 percentage points.

A year marked by growth on the Baltic real estate market

In the first ten months of 2016, the number of transactions on the Baltic real estate market rose by 6% against the respective period a year before. Given the acquisition and merger (A&M) trends in the Baltics over the past three years, the year of 2016 was closed with a comparatively high number of M&A transactions on the whole, the authors of Prudentia M&A Folio report have concluded.