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The second largest manufacturing company by turnover was Severstal Distribution with EUR 279.358 million in turnover, and the third was Valmieras Stikla Skiedra fiberglass maker with EUR 101.413 million in the annual turnover last year.

The industry’s top ten companies by turnover also included Livonia Print with EUR 53.351 million in turnover, East Metal with EUR 49.11 million, Lexel Fabrika with EUR 44.07 million, Stora Enso Packaging with EUR 40.048 million, Polipaks with EUR 35.674 million, Laima Fabrics with EUR 32.349 million, AKG Tehermotechnik Lettland with EUR 30.7 million.

Last year manufacturing sector showed the biggest growth – by 66%, according to the Latvian Business Annual Report. The growth has been promoted by expansion of the market and solving export challenges.

Latvian Business Annual Report offers an overview of leading Latvian companies in more than 60 sectors based on the data in their annual reports as well as commentaries and forecasts by experts.

The report has been complied by Firmas.lv in cooperation with information agency LETA, the Foreign Investors Council in Latvia, and researchers of the Stockholm School of Economics in Riga and Oxford Research Baltics.