Industry revenue of »freight transport by road« in Latvia 2011-2023
According to data from the European Commission, Latvia has one of the poorest roads in Europe with one of the highest traffic fatality rates, owing to the lack of investments in road infrastructure. This has not augured well for the road freight industry, with revenues experiencing a declining since 2014. Additionally, lack of investments in the necessary transport infrastructure such as delivery trucks and buses has also led to the decline.
As a result, road transport accounted for only 26 percent of the total inland freight transport in the country in 2017, significantly lower than the EU average, which stood at 77 percent during the same period.
Covid-19 outbreak to have a further impact on sales
Road freight transport in Latvia witnessed a 1.3 percent year over year decline in Q1 2020, due to the outbreak of the corona virus. 14.5 million tonnes of freight was transported through roads, 0.2 million tonnes less than in Q1 2019, according to data from balticnewsnetwork.com.
As a result, road transport accounted for only 26 percent of the total inland freight transport in the country in 2017, significantly lower than the EU average, which stood at 77 percent during the same period.
Covid-19 outbreak to have a further impact on sales
Road freight transport in Latvia witnessed a 1.3 percent year over year decline in Q1 2020, due to the outbreak of the corona virus. 14.5 million tonnes of freight was transported through roads, 0.2 million tonnes less than in Q1 2019, according to data from balticnewsnetwork.com.
