From 25 to 27 March 2025, Riga, Latvia, hosted the 8th meeting of the Expert Group on Integrated Global Accounts. The first day of the meeting was dedicated to a workshop on the space economy thematic account, where delegates from the European Statistical System (ESS) and National Space agencies gathered to discuss the rapidly evolving space sector.
Mattias Sundholm, Policy Officer from the Directorate-General for Defence Industry and Space, opened the session with a compelling presentation on the predicted growth of the space economy. He highlighted that the space economy is projected to reach €1.8 trillion by 2035. Sundholm also emphasized the need for enhanced macroeconomic indicators and statistics on the space economy, both at the EU and member state levels, to support evidence-based policymaking. He underscored the importance of improving information exchange between space agencies and national statistical bureaus.
Next, Stéphanie Willekens, economist at the European Space Agency (ESA), emphasized that $234 trillion of the global economy is estimated to depend on space assets. Space technologies are crucial in supporting 11 out of 16 critical infrastructures in OECD countries, including transport, energy, food supply, health, defence, and public safety. Willekens also pointed to the benefits of using macroeconomic statistics and thematic accounts to guide effective policymaking.
Throughout the day, the Statistical Offices of Denmark and Italy shared their progress in developing national space economy thematic accounts. Both countries discussed their main obstacles and their next steps toward refining their methodologies.
Also, Juris Nitišs from the Central Statistical Bureau of Latvia shared an update on Latvia’s progress in developing its space economy thematic account at the national level. The project, funded by Eurostat, highlights the collaboration between Latvia’s ministries and the Central Statistical Bureau, with valuable data, for example, from latviaspace.gov.lv, annual company reports, and public information. This initiative aims to provide essential insights for further developing the country’s space economy.
The workshop concluded with Eurostat and the Joint Research Centre (JRC) presenting a concrete methodology based on the national experiences shared throughout the day. This framework offers valuable insights for developing a comprehensive European Space Economy Thematic Account.
This workshop highlighted the growing importance of accurate data and cross-border collaboration to effectively shape the future of the space economy, both in Latvia and across Europe.
