Eurasian chemical market

The Chemical Industry of Latvia

     The article deals with one of the three Baltic States - Latvia. Our readers will get to know about its last year’s policy on VAT, trade and customs as well as about transport and logistics. The article gives close consideration to the prices of gas and new projects, since Latvia boasts the Incukalns Gas Reservoir, which is the largest natural gas reservoir in Europe with a capacity of 4.4bn m3.
     Furthermore, it analyses the Latvian chemical industry, which includes the manufacturing of pharmaceuticals, raw materials and partially processed products (e.g. casein, glass fibre and fibre-based products), paints and coatings, along with industrial and household chemicals for the domestic and regional markets. Around 53.7% of the chemicals are exported.
     Despite the current lack of investments in R & D, Latvian pharmaceutical companies have shown the world their great potential by patenting 12 new drugs. Here one can find a detailed description of the main producers of cosmetics, perfumes, household goods, fibreglass, rubber and plastic products, anti-corrosion agents, paints and coatings. To sum it up, though Latvia is not a leading power in the region now, it holds on strongly to its present position.

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