New businesses registered (number) in Latvia
Latvia: New businesses registered was 8,218 number in 2024. ▼ Falling
New businesses registered in Latvia, 2006–2024
Source: Entrepreneurship Database, World Bank (WB). Measured in number.
Analysis
Latvia recorded 8,218 number for new businesses registered in 2024.
That represents a change of up 5.5% on the previous year and down 41.5% over ten years.
Over the whole period, new businesses registered in Latvia peaked at 16,941 number in 2011 and was at its lowest, 7,253 number, in 2009.
That places Latvia 95th out of 177 countries with data for 2024, putting it in the middle of the range.
The long-run direction has been consistently falling across the 19 years of available data.
New businesses registered in Latvia, year by year
| Year | number | Change |
|---|---|---|
| 2006 | 11,358 number | — |
| 2007 | 12,061 number | +6.2% |
| 2008 | 9,068 number | -24.8% |
| 2009 | 7,253 number | -20.0% |
| 2010 | 12,018 number | +65.7% |
| 2011 | 16,941 number | +41.0% |
| 2012 | 15,794 number | -6.8% |
| 2013 | 15,405 number | -2.5% |
| 2014 | 14,052 number | -8.8% |
| 2015 | 12,615 number | -10.2% |
| 2016 | 10,372 number | -17.8% |
| 2017 | 9,405 number | -9.3% |
| 2018 | 9,925 number | +5.5% |
| 2019 | 9,632 number | -3.0% |
| 2020 | 8,262 number | -14.2% |
| 2021 | 8,521 number | +3.1% |
| 2022 | 7,924 number | -7.0% |
| 2023 | 7,792 number | -1.7% |
| 2024 | 8,218 number | +5.5% |
Latvia compared with similar countries
- Latvia's 8,218 number is below the median for high income countries, which is 19,050 number, 43% of the median. (63 countries reporting)
- Latvia's 8,218 number is below the median for Europe & Central Asia, which is 19,136 number, 43% of the median. (50 countries reporting)
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 2000s | 9,935 number | 7,253 number | 12,061 number | 4 |
| 2010s | 12,616 number | 9,405 number | 16,941 number | 10 |
| 2020s | 8,143 number | 7,792 number | 8,521 number | 5 |
Countries ranked near Latvia
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 businesses registered in Latvia?
- New businesses registered in Latvia was 8,218 number in 2024, according to Entrepreneurship Database, World Bank (WB).
- What is the highest new businesses registered recorded in Latvia?
- The highest recorded value was 16,941 number in 2011.
- What is the lowest new businesses registered recorded in Latvia?
- The lowest recorded value was 7,253 number in 2009.
- How does Latvia rank for new businesses registered?
- Latvia ranks 95th out of 177 countries with data for 2024.
- Is new businesses registered rising or falling in Latvia?
- Over the last ten years it is down 41.5%. 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 businesses registered (number). Statizoid updates them automatically from the source API.
Download this data
CSV · JSON — 19 observations, free to reuse under CC BY 4.0 (World Bank Open Data).
About this data
New businesses registered are the number of new limited liability corporations (or its equivalent) registered in the calendar year.