The Baltic region—Estonia, Latvia, and Lithuania—is quietly emerging as a compelling export destination for Nordic brands. With a combined population of over 6 million, the Baltics represent a larger consumer base than either Finland (5.6 million) or Norway (5.5 million). And their economic trajectory is increasingly favorable for consumer-focused exporters.
Wages are rising fast—outpacing inflation for two consecutive years. In 2024, average gross wages grew by:
- 10.4% in Lithuania
- 11.4% in Latvia
- 8.8% in Estonia
Meanwhile, inflation moderated to:
- 2.3% in Lithuania
- 2.2% in Latvia
- 4.2% in Estonia
The trend continues into 2025, with wage growth forecast at:
- 7.0% in Lithuania
- 6.8% in Latvia
- 5.3% in Estonia
…and inflation projected to hold between 2.5% and 3.0% across the region.
The result? Strong, sustained gains in real purchasing power. Consumers across the Baltics are spending more, trading up, and developing preferences for higher-quality, premium, and branded goods.
For Nordic exporters, this opens a new dimension. Traditionally seen as production or transit hubs, the Baltics are now viable consumer markets in their own right. Sectors like home goods, furniture, health and wellness, and personal care are particularly well-positioned.
With geographic proximity, cultural familiarity, and efficient logistics, the Baltics offer a low-barrier growth opportunity. Nordic brands that act early can build customer loyalty before these fast-developing markets become crowded.