Investments double in Latvia-based smart materials and photonics companies
Latvia's smart materials and photonics industry has been punching above its weight on the global stage and shows no signs of slowing, seeing over 40% growth in exports over the last 5 years, reaching 90M EUR in 2020. The steady growth has not gone unnoticed, with yearly external investments more than doubling from 16M EUR in 2016 to 40M EUR in 2020 over the same period, investigated investinlatvia.org.
This is not the merit of a single breakout success story or an individual unicorn, but rather the result of sustained long-term development of the industry ecosystem on a national
