Location
On the world map, Latvia is to be found on the east coast of the Baltic Sea at the crossroads of northern and eastern Europe. Latvia, a parliamentary republic is bordered by Estonia to the north, Russia and Belarus to the east, Lithuania to the south and has a maritime border with Sweden to the west.
Name of country Republic of Latvia
Country code LV
Size of Area 64 589 km2
Population (at the beginning of 2009) 2,229 million
Capital City Riga
Ethnic Composition (beginning of 2008) 59.4% Latvian, 27.6% Russian, 3.6% Belarusian,
2.5% Ukrainian, 2.3% Polish, 1.3% Lithuanian,
0.4% Jewish, 2.9% other nationalities
Language
Latvian (official); Russian, English and German are also widely spoken
Political system Republic, parliamentary democracy
Head of State President Mr. Andris Bērziņš
(elected in 2011 by Parliament for a four-year term)
Head of Government Prime Minister Mr. Valdis Dombrovskis
Political Parties
Association of Political Parties “Harmony Centre” (Politisko partiju apvienība “Saskaņas Centrs”): 31 seats
Unity (Vienotība): 20 seats
Zatlers’ Reform Party: 16 seats
National Association “All For Latvia!” - “For Fatherland and Freedom/LNNK” (Nacionālā apvienība “Visu Latvijai!” – “Tēvzemei un Brīvībai/LNNK”): 14
Greens and Farmers Union (Zaļo un Zemnieku savienība): 13 seats
Independents: 6 seats
Membership in International Organizations Member of NATO since 2004
Member of WTO since 1998
EU Membership Since 2004
ECONOMIC INDICATORS
GDP(2010)
GDP(2009) EUR 18.017 billion
EUR 18.615 billion
Growth of GDP(2010)
Growth of GDP(2009) - 0.2%
- 18%
GDP per capita(2010)
GDP per capita(2009) EUR 8,031
EUR 8,256
Private Consumption
(percentage of GDP, 2010) 63%
Public Consumption
(percentage of GDP, 2010) 17%
Capital Account Balance
(2010) EUR 352.7 million
Gross Fixed Capital Formation
(percentage of GDP, 2010) 18%
Growth of Industrial Production
(as % of previous period, data adjusted by number of working days, 2010) 13.9%
Government Revenue
(percentage of GDP, 2010) 36.2%
Government Expenditure
(percentage of GDP, 2010) 42.5%
Inflation Rate (2010) - 1.1%
Rate of Real Wage Growth (2010) - 3.5%
Unemployment Rate (2010) 18.7%
Fiscal Balance
(percentage of GDP) (2010) - 6.3%
Current Accounts (2010) EUR 648.5 billion
Exports of goods and services (2010) EUR 9.578 billion
Imports of goods and services (2010) EUR 9.625 billion
Accumulated FDI (2010) EUR 8.250 billion
Accumulated FDI per capita (2010) EUR 3700
Government Debt (2010) EUR 7.230 billion
Exchange Rate to EURO, fixed rate as of January 1, 2005 1 EUR = 0.702804 LVL
Credit Ratings:
Fitch
Moody’s
R&I
S&P
BBB-/stable (Dec. 2011)
Baa3 (Dec. 2011)
BBB-/stable (Jan. 2012)
BB+/positive (March 2011)
On the world map, Latvia is to be found on the east coast of the Baltic Sea at the crossroads of northern and eastern Europe. Latvia, a parliamentary republic is bordered by Estonia to the north, Russia and Belarus to the east, Lithuania to the south and has a maritime border with Sweden to the west.
Name of country Republic of Latvia
Country code LV
Size of Area 64 589 km2
Population (at the beginning of 2009) 2,229 million
Capital City Riga
Ethnic Composition (beginning of 2008) 59.4% Latvian, 27.6% Russian, 3.6% Belarusian,
2.5% Ukrainian, 2.3% Polish, 1.3% Lithuanian,
0.4% Jewish, 2.9% other nationalities
Language
Latvian (official); Russian, English and German are also widely spoken
Political system Republic, parliamentary democracy
Head of State President Mr. Andris Bērziņš
(elected in 2011 by Parliament for a four-year term)
Head of Government Prime Minister Mr. Valdis Dombrovskis
Political Parties
Association of Political Parties “Harmony Centre” (Politisko partiju apvienība “Saskaņas Centrs”): 31 seats
Unity (Vienotība): 20 seats
Zatlers’ Reform Party: 16 seats
National Association “All For Latvia!” - “For Fatherland and Freedom/LNNK” (Nacionālā apvienība “Visu Latvijai!” – “Tēvzemei un Brīvībai/LNNK”): 14
Greens and Farmers Union (Zaļo un Zemnieku savienība): 13 seats
Independents: 6 seats
Membership in International Organizations Member of NATO since 2004
Member of WTO since 1998
EU Membership Since 2004
ECONOMIC INDICATORS
GDP(2010)
GDP(2009) EUR 18.017 billion
EUR 18.615 billion
Growth of GDP(2010)
Growth of GDP(2009) - 0.2%
- 18%
GDP per capita(2010)
GDP per capita(2009) EUR 8,031
EUR 8,256
Private Consumption
(percentage of GDP, 2010) 63%
Public Consumption
(percentage of GDP, 2010) 17%
Capital Account Balance
(2010) EUR 352.7 million
Gross Fixed Capital Formation
(percentage of GDP, 2010) 18%
Growth of Industrial Production
(as % of previous period, data adjusted by number of working days, 2010) 13.9%
Government Revenue
(percentage of GDP, 2010) 36.2%
Government Expenditure
(percentage of GDP, 2010) 42.5%
Inflation Rate (2010) - 1.1%
Rate of Real Wage Growth (2010) - 3.5%
Unemployment Rate (2010) 18.7%
Fiscal Balance
(percentage of GDP) (2010) - 6.3%
Current Accounts (2010) EUR 648.5 billion
Exports of goods and services (2010) EUR 9.578 billion
Imports of goods and services (2010) EUR 9.625 billion
Accumulated FDI (2010) EUR 8.250 billion
Accumulated FDI per capita (2010) EUR 3700
Government Debt (2010) EUR 7.230 billion
Exchange Rate to EURO, fixed rate as of January 1, 2005 1 EUR = 0.702804 LVL
Credit Ratings:
Fitch
Moody’s
R&I
S&P
BBB-/stable (Dec. 2011)
Baa3 (Dec. 2011)
BBB-/stable (Jan. 2012)
BB+/positive (March 2011)
