New business density in Latvia
Latvia: New business density was 7.02 new registrations per 1,000 people ages 15-64 in 2024. ▼ Falling
Latest (2024)
7.02 new registrations per 1,000 people ages 15-64
Change on year
up 6.5%
World rank
36th
of 177 countries
All-time high
12.22 new registrations per 1,000 people ages 15-64
in 2011
All-time low
4.99 new registrations per 1,000 people ages 15-64
in 2009
Years of data
19
2006–2024
New business density in Latvia, 2006–2024
Source: Entrepreneurship Database, World Bank (WB). Measured in new registrations per 1,000 people ages 15-64.
Analysis
The most recent figure for new business density in Latvia is 7.02 new registrations per 1,000 people ages 15-64, measured in 2024.
That represents a change of up 6.5% on the previous year and down 34.3% over ten years.
Over the whole period, new business density in Latvia peaked at 12.22 new registrations per 1,000 people ages 15-64 in 2011 and was at its lowest, 4.99 new registrations per 1,000 people ages 15-64, in 2009.
Latvia ranks 36th of 177 countries on this measure, in the top quarter.
The long-run direction has been consistently falling across the 19 years of available data.
New business density in Latvia, year by year
| Year | new registrations per 1,000 people ages 15-64 | Change |
|---|---|---|
| 2006 | 7.48 new registrations per 1,000 people ages 15-64 | — |
| 2007 | 8.02 new registrations per 1,000 people ages 15-64 | +7.1% |
| 2008 | 6.1 new registrations per 1,000 people ages 15-64 | -23.9% |
| 2009 | 4.99 new registrations per 1,000 people ages 15-64 | -18.3% |
| 2010 | 8.48 new registrations per 1,000 people ages 15-64 | +70.0% |
| 2011 | 12.22 new registrations per 1,000 people ages 15-64 | +44.2% |
| 2012 | 11.59 new registrations per 1,000 people ages 15-64 | -5.2% |
| 2013 | 11.51 new registrations per 1,000 people ages 15-64 | -0.7% |
| 2014 | 10.69 new registrations per 1,000 people ages 15-64 | -7.1% |
| 2015 | 9.76 new registrations per 1,000 people ages 15-64 | -8.7% |
| 2016 | 8.17 new registrations per 1,000 people ages 15-64 | -16.3% |
| 2017 | 7.53 new registrations per 1,000 people ages 15-64 | -7.8% |
| 2018 | 8.05 new registrations per 1,000 people ages 15-64 | +6.9% |
| 2019 | 7.91 new registrations per 1,000 people ages 15-64 | -1.8% |
| 2020 | 6.86 new registrations per 1,000 people ages 15-64 | -13.2% |
| 2021 | 7.16 new registrations per 1,000 people ages 15-64 | +4.3% |
| 2022 | 6.69 new registrations per 1,000 people ages 15-64 | -6.6% |
| 2023 | 6.59 new registrations per 1,000 people ages 15-64 | -1.4% |
| 2024 | 7.02 new registrations per 1,000 people ages 15-64 | +6.5% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 2000s | 6.65 new registrations per 1,000 people ages 15-64 | 4.99 new registrations per 1,000 people ages 15-64 | 8.02 new registrations per 1,000 people ages 15-64 | 4 |
| 2010s | 9.59 new registrations per 1,000 people ages 15-64 | 7.53 new registrations per 1,000 people ages 15-64 | 12.22 new registrations per 1,000 people ages 15-64 | 10 |
| 2020s | 6.86 new registrations per 1,000 people ages 15-64 | 6.59 new registrations per 1,000 people ages 15-64 | 7.16 new registrations per 1,000 people ages 15-64 | 5 |
Countries ranked near Latvia
- 33 Georgia 7.62 new registrations per 1,000 people ages 15-64 compare
- 34 Romania 7.47 new registrations per 1,000 people ages 15-64 compare
- 35 Sweden 7.08 new registrations per 1,000 people ages 15-64 compare
- 37 Denmark 6.85 new registrations per 1,000 people ages 15-64 compare
- 38 France 6.82 new registrations per 1,000 people ages 15-64 compare
- 39 Qatar 6.77 new registrations per 1,000 people ages 15-64 compare
More private sector data for Latvia
- Merchandise trade 99.6% (2025)
- Food imports 17.9% (2025)
- Manufactures imports 60.8% (2025)
- Merchandise imports 26.28 billion current US$ (2025)
- Food exports 22.1% (2025)
- Manufactures exports 54.2% (2025)
- Merchandise exports 22.12 billion current US$ (2025)
- Merchandise exports (current US$), per capita 11,972 current US$ per person (2025)
- Merchandise exports (current US$), per unit of GDP 0.455 current US$ per US$ of GDP (2025)
- Merchandise exports (current US$), annual growth rate 7.16 % change on previous year (2025)
Frequently asked questions
- What is new business density in Latvia?
- New business density in Latvia was 7.02 new registrations per 1,000 people ages 15-64 in 2024, according to Entrepreneurship Database, World Bank (WB).
- What is the highest new business density recorded in Latvia?
- The highest recorded value was 12.22 new registrations per 1,000 people ages 15-64 in 2011.
- What is the lowest new business density recorded in Latvia?
- The lowest recorded value was 4.99 new registrations per 1,000 people ages 15-64 in 2009.
- How does Latvia rank for new business density?
- Latvia ranks 36th out of 177 countries with data for 2024.
- Is new business density rising or falling in Latvia?
- Over the last ten years it is down 34.3%. The long-run trend across the full record is falling.
- Where does this Latvia data come from?
- The figures come from Entrepreneurship Database, World Bank (WB), published as part of New business density (new registrations per 1,000 people ages 15-64). Statizoid updates them automatically from the source API.
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About this data
The number of newly registered firms with limited liability per 1,000 working-age people (ages 15-64) per calendar year.