Aircraft Market Overview in Latvia
In value terms, aircraft production stood at $ in 2018 estimated in export prices. Over the period under review, aircraft production continues to indicate a skyrocketing expansion. The pace of growth was the most pronounced in 2011 with an increase of % against the previous year. Latvia aircraft production peaked at $ in 2016; however, from 2017 to 2018, production remained at a lower figure.
The revenue of the aircraft market in Latvia amounted to $ in 2018, surging by % against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, aircraft consumption continues to indicate a buoyant increase. The pace of growth was the most pronounced in 2008 when the market value increased by % against the previous year. Over the period under review, the aircraft market hit record highs in 2018 and is expected to retain its growth in the near future.