Ventspils is strengthening its position as an important industrial center of Latvia

According to information provided by Central Statistical Bureau of Republic of Latvia, in the first quarter in Ventspils, the turnover of production produced by merchants of the manufacturing industry, reached € 98 million. Comparing the 1st quarter of 2024 with the 1st quarter of 2023, the turnover of manufacturing industry in Ventspils has been the same.
Most of the production of Ventspils manufacturing companies - 90% - was exported in the 1st quarter of 2024, which gives Ventspils manufacturing companies the opportunity to sell their products in markets with higher solvency. This is the highest proportion of exported production among national cities and higher than the average in Latvia (67%). ​Out of the total production volume of Ventspils manufacturing industry in the 1st quarter of 2024, € 40.7 million or 42% of production was produced in companies specialised in “Metalworking and mechanical engineering”. Same time last year this particular manufacturing industry produced 45% (€ 40.4 million) of the total 1st quarter production.
The biggest companies representing this sector are SIA Bucher Municipal, SIA Malmar Sheet Metal, SIA Ventspils metināšanas rūpnīca, SIA Kalmeta, SIA Parkit and SIA TC STEEL.
Similar to the 1st quarter of 2023, compared to other national cities, Ventspils both in terms of production volume and turnover has been in 3rd place right after Riga and Liepaja. Riga, as the capital, has been known to be the national leader with turnover of € 809.7 million in value of industrial production for the 1st quarter of 2024.