The “Top 50” service importers set a new record last year, with an import amount reaching € 1.2 billion. “Delphi business“offers to take a look at the list of Latvia’s largest service importers, specially prepared for the portal Bank of Latviaas well as evaluating newcomers on the list, longtime ones, and what changes are planned on the list this year.
The import of services from Latvia increased by 21% last year (up to 3.06 billion euros) and equaled the level of 2018, when it was 3.02 billion euros. In 2019, similar to the export of services, Latvia’s all-time import service record was reached: 3.2 billion euros, but in 2020, due to the pandemic, this indicator dropped to 2.5 billion euros.
Compared to changes in the total import of services, the volume of the “Top 50” service importers grew faster last year – by 24% compared to 2020, up to 1.2 billion euros. And this is a new record, because despite a slight decline in 2020, the pre-pandemic volume of 2019 was surpassed last year (€ 1.06 billion). As a result, the volume share of the 50 largest service importers, relative to total volumes, has risen to 40% (in 2020 – 38%, in 2019 – 33%), which means that the largest “Top 50” constitute a significant part of import service “enterprises”.
Two newcomers
In the list of the “Top 50” Latvian importers, several changes have occurred, which characterize both the impact of the pandemic and the changes in the structure of our country’s economy.
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