Regional portrait: Chemical, pharmaceutical and biotechnological industries in Latvia
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The chemical, pharmaceutical and biotechnological industry is one of the most promising sectors in Latvia and includes the manufacturing of chemicals and chemical products, basic pharmaceuticals and pharmaceutical preparations, as well as rubber and plastic products. The industry is an important part of the Latvian economy, accounting for 7.5% of turnover for all manufacturing industries in 2013. Pharmaceuticals comprise the industry’s largest sub-sector, creating 32% of its total turnover.
Latvia’s long experience and traditions, availability of highly qualified specialists, cost efficiency, high degree of competence in R&D and strong manufacturing base provide an excellent foundation for business and innovative activities in the country’s burgeoning chemical, pharmaceutical and biotechnological sector.
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