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DEVELOPMENT OPPORTUNITIES FOR THE BIOECONOMY IN LATVIA
Abstract
Latvia is one of the European Union (EU) Member States being rich in bioresources. In terms of agricultural land area per capita, Latvia ranks third in the EU, while in terms of forest area per capita, Latvia ranks fourth. Bioeconomy industries may be theoretically divided into several groups: primary biomass production; biomass processing by mainly bioresource-based industries; biomass processing by industries, the bioresources of which compete with other kinds of raw materials; recycling of bio-products and water management; exploitation of bioresources for the production of services. Conventional bioeconomy industries accounted for 57% of the value added of the goods sector, 38% of the total exports and employed 15% of the total labour force in Latvia in 2014. A bioeconomy for Latvia is the possibility to increase the value added of conventional bioeconomy industries to EUR 3.5 billion and the value of exports to EUR 9 billion by 2030. Experts forecast balanced development of all the conventional bioeconomy industries.
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