Latvia—Average Firm Age (years)
Category: Private SectorSource: World Bank World Development Indicators ↗Global Rank: #43 of 116Updated April 2026
Latest Value
24 years
2024
YoY Change
+30.5%
2019 → 2024
Global Rank
#43
of 116 countries
Maximum
24 years
2024
Minimum
11 years
2009
CAGR
+4.9%
4 years
Last
24 years
Previous
18 years
Highest
24 years
Lowest
11 years
Source
World Bank World Development Indicators
Latvia's average firm age (years) was 24 years in 2024, ranking #43 out of 116 countries. This represents a +30.5% change from 2019. Over the past 4 years, the highest recorded value was 24 years (2024) and the lowest was 11 years (2009). Data sourced from the World Bank World Development Indicators.
Source: World Bank World Development Indicators
Historical Data
| Year | Value | Change |
|---|---|---|
| 2024 | 24 years | +30.5% |
| 2019 | 18 years | +55.2% |
| 2013 | 12 years | +1.4% |
| 2009 | 11 years |
Top Countries — Average Firm Age (years)
About This Indicator
Definition
The average wait, in days, to obtain an operating license, from the day of the application to the day it was granted.
Methodology
Data compiled by Enterprise Surveys, World Bank (WB), uri: https://www.enterprisesurveys.org/en/data.