Now in Daugavpils

Economic indicators

Information has been updated at 19.08.2020, 16:51

The city of Daugavpils has historically progressed as an industrial center, which up to date determines the development of many manufacturing sectors. The traditional and most important fields of business in Daugavpils are the production of finished metal products, food and beverages, chemical fibers and goods related to them, electric cables and cable connections, as well as the manufacture and repair of rolling stock.

 

 

DAUGAVPILS INDUSTRIAL SECTOR STRUCTURE 2019

The largest manufacture companies in Daugavpils sold products in the amount of 276.64 million euros in 2019. Compared to 2018, the sales volume of industrial products increased by 30.6 million euros or by 11.0%. (Daugavpils City Council Development Department's data)


 

POSITIVE MANUFACTURE VOLUME TREND


The increase in the volume of industrial production in the largest companies is related to the acquisition of new markets and the production of novel products. Compared to 2018, the increase in production volume is observed in segments like mechanical engineering, metalworking, production of chemical fibers and related goods, likewise manufacture of cable joints and plastic products. In other sectors, production volumes have remained at the level of year 2018.

 

DAUGAVPILS' ECONOMIC FEATURES


The city's economy is based on metalworking, food, chemical fiber and electric cable enterprises, which primarily export their products abroad and employ the majority of the city's population. Almost half of 96 manufacturing companies in the city are exporters. Moreover, enterprises in the electronics and IT industries have been showing a rapid growth in Daugavpils in recent years. Most of the exporting companies in Latgale region are located in Daugavpils.

Production enterprises of Daugavpils work successfully, increase their capacities, reconstruct fabrication facilities, introduce modern technologies and expand the volume of products sold both in Latvia and abroad. Daugavpils businesses actively participate in programs administered by the Investment and Development Agency of Latvia (LIAA) and use the co-financing possibilities provided by the EU, thus constantly improving manufacturing processes and increasing the added value of manufactured goods by developing innovative products.