Industry revenue of »retail sale of hardware, paints and glass« in Latvia 2011-2023

Over the years, the Latvian glass industry has emerged as a strong pillar of its economy, owing to the strong investments in infrastructure and production facilities. The number of enterprises in the manufacture of glass and glass products industry have grown from 42 in 2008 to 57 as of 2017. Moreover, Latvian exports of glass and glassware have also grown from just over 100 million U.S. dollars in 2010 to over 167 million U.S. dollars in 2019, as per data from the United Nations COMTRADE database.

The country’s paints and coating industry has also benefitted from the presence of some of the largest paint manufactures in the world such as Akzo Nobel and BASF. This has augured well for the country’s overall hardware, paints and glass retail sector, with revenues projected to grow from 569 million U.S. dollars in 2011 to nearly 800 million U.S. dollars by 2023.

Valmiera Glass Group to expand in the U.S.

One of Latvia’s leading fibre glass manufacturers, the Valmiera Glass Group is seeking to invest 90 million U.S. dollars to expand its operations in Laurens County. As per estimates, this will result in the creation of nearly 425 new jobs in the county. Additionally, it would also make the manufacturer the largest employer in Laurens County, as per data from the Georgia Department of Economic Development.