The article summarizes the information on the Latvian manufactured product range expansion opportunities based on local renewable resources (hemp and flax). Latvia as a small open economy country, the economic growth and social welfare growth is largely dependent on both environmental conservation and education among the population-raising in the direction of sustainable development, as well as the ability to create and realize competitive products and services to the global market. The world's growing tendency to reduce the variety in the production of synthetic fiber and replacing them with native, including hemp and flax fiber. Since 2007 decreased sales of flax, so looked for alternatives to the cultivation of industrial crops, to ensure the functioning of the flax-processing plants. As an alternative could be the production of hemp, which Latvian is slowly being resumed. Hemp is a huge advantage, for example, they have no natural pests, fibers rot, deteriorate. They improve soil structure and its biomass suppresses weeds. Like any natural material, hemp fabric is recyclable and naturally decompose. Hemp is five times stronger than cotton tarpaulins, and harder breakable of flax.In year 2009 in Latvia with hemp is planted about 200 ha. To successfully develop the industry, the need to sow hemp is at least 1,000 ha. An important step in the development of Latvian economy is the processing of already finished products, which certified it as a product with added value. Thus, an opportunity to encourage the spreading of the Latvian economy.