New business density — all countries

New business density — Latvia

New business density in Latvia in 2024 — 7.02 per 1,000. Ranked 35 in the world out of 134. Since 2006, the indicator has fallen by 6.2%.

2024 7.02 per 1,000 +6.53% vs 2023
World rank 35of 134
Period maximum 12.22 per 1,0002011
Period minimum 4.99 per 1,0002009

Trend over time

2006–2024 · per 1,000 people aged 15–64

New business density — Latvia, 2006–202446810121420062008201020122014201620182020202220242006: 7.48 per 1,0002007: 8.02 per 1,0002008: 6.1 per 1,0002009: 4.99 per 1,0002010: 8.48 per 1,0002011: 12.22 per 1,0002012: 11.59 per 1,0002013: 11.51 per 1,0002014: 10.69 per 1,0002015: 9.76 per 1,0002016: 8.17 per 1,0002017: 7.53 per 1,0002018: 8.05 per 1,0002019: 7.91 per 1,0002020: 6.86 per 1,0002021: 7.16 per 1,0002022: 6.69 per 1,0002023: 6.59 per 1,0002024: 7.02 per 1,000
Change over the period: −0.46 (−6.19%) Average annual rate: -0.35 %

Comparison, 2024

How the value compares with the world and the groups this territory belongs to: Latvia

Latvia 7.02 per 1,000
World 5.15 per 1,000
Europe & Central Asia 4.89 per 1,000
Northern Europe computed 14.89 per 1,000
New business density — Latvia, by year Latvia All countries CSV XLSX
Year per 1,000 Change Change, %
2024 7.02 +0.43 +6.53%
2023 6.59 −0.1 −1.43%
2022 6.69 −0.47 −6.62%
2021 7.16 +0.3 +4.31%
2020 6.86 −1.04 −13.18%
2019 7.91 −0.14 −1.79%
2018 8.05 +0.52 +6.93%
2017 7.53 −0.64 −7.8%
2016 8.17 −1.59 −16.33%
2015 9.76 −0.93 −8.72%
2014 10.69 −0.82 −7.1%
2013 11.51 −0.08 −0.73%
2012 11.59 −0.63 −5.15%
2011 12.22 +3.74 +44.16%
2010 8.48 +3.49 +70.01%
2009 4.99 −1.12 −18.28%
2008 6.1 −1.91 −23.86%
2007 8.02 +0.53 +7.11%
2006 7.48

About the indicator

The number of newly registered limited liability companies per 1,000 people of working age (15–64) over a year. It is an indicator of entrepreneurial activity and of the ease of entering a market. Only limited liability companies are counted, so in countries where sole proprietorships dominate the figure is understated.

Important: The aggregate is weighted by the population aged 15–64 — the same denominator that stands in the indicator. Only new limited liability companies are counted, so where other legal forms are common the value is understated.

Source: World Development Indicators (World Bank), license CC BY 4.0.