Recovery for Latvia

After experiencing a very difficult 2008-2009, the Latvian plastics processing industry caught its breath and witnessed some improvement in its production index in 2010.
Surveys by the Latvian statistics office show that during the peak of the crisis approximately 30 of the 300 factories in the industry ceased operations (cutting 1,400 jobs) and overall revenues were nearly cut in half. This negative trend lessened in 2010 and then reversed in the final months of the year: in November, output of plastic products was up 5.4% with respect to the base year of 2005. Recovery was sustained mainly by the domestic market.
Although representing about 60% of total turnover, exports had gradually weakened by the end of the year.