Latvia's Defense Industry Exports May Exceed €500 Million in 2024
Latvia's security and defense industry exports are projected to surpass 500 million euros in 2024. The government aims to enhance military production and critical infrastructure security through strategic investments and support programs.
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Latvia's defense sector exports may have exceeded 500 million euros in 2024, as indicated by Elīna Egle-Ločmele, chairperson of the Latvian Security and Defense Industry Federation. The Ministry of Economy is focused on five key areas: enhancing military production capacity, reducing administrative barriers, establishing a contact point for large defense projects, and creating essential goods reserves.
The 'Defense Industry and Innovation Support Strategy 2025-2036' aims to attract investment and improve integration into global supply chains. Concerns persist regarding coordination between the Ministry of Defense and the Ministry of Economy for local company involvement. This growth reflects the sector's critical role in the economy.
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