The paper is devoted to the analysis and evaluation of competitiveness of industries in regions and global market. In the research, one EU economy (Latvia) is examined; however, the methodology and set of indicators can be applied to other EU countries. The aim of the research is to elaborate a set of indicators, in order to evaluate the competitiveness of industries. Productivity and ratio of exports to imports by industries are used to identify the competitiveness of industries in the regions and in global market. The authors argue that that competitiveness of industries in the regions and global market is inhomogeneous and the average national level indicators do not disclose the regional specifics due to the large distribution of indicators' values. The authors argue that the competitiveness of industries in global market are strongly determined by productivity, hence we recommend the policy makers to elaborate programmes that are aimed at potential productivity improvements in industries that are located in the regions and hence use the available EU funds in this financial period as efficiently as possible. Since Latvia is regarded as one region in NUTS 2, the regional development and cohesion is heavily dependent on the national rather than the EU activities.