eCommerce market in Latvia
Market development
eCommerce revenue development in Latvia
Latvia is the 75th largest market for eCommerce with a predicted revenue of US$787.7 million by 2024, placing it ahead of Bolivia. Revenue is expected to show a compound annual growth rate (CAGR 2024-2028) of 3.4%, resulting in a projected market volume of US$900.7 million by 2028. With an expected increase of 4.5% in 2024, the Latvian eCommerce market contributed to the worldwide growth rate of 10.4% in 2024. Like in Latvia, global eCommerce sales are expected to increase over the next years. Seven markets are considered by ECDB within the Latvian eCommerce market. Hobby & Leisure is the largest market and accounts for 26.5% of the Latvian eCommerce revenue. It is followed by Electronics with 20.4%, Fashion with 16.9%, Furniture & Homeware with 11.7%, Care Products with 9.5%, DIY with 9.1%, and Grocery with the remaining 6.0%.
eCommerce revenue development in Latvia
eCommerce revenue growth in Latvia
2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | 2027 | |
---|---|---|---|---|---|---|---|---|
Revenue (in mUS$) | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 |
Growth (in %) | 43.3 | 49.6 | 83.1 | 64.6 | 44.1 | 99.7 | 95.3 | 76.9 |
Select main category