Latvia in Facts

Location

The Baltic country of Latvia is located at the crossroads of northern and eastern Europe, on the east coast of the Baltic Sea. The Republic of Latvia is bounded by Estonia to the north, Russia and Belarus to the east and Lithuania to the south, and has a maritime border with Sweden to the west. Other neighbouring countries include Finland, Poland and Germany. The strategic location of Latvia has been the major influence on the country's diverse historical and cultural experiences. Today, it is this location which forms the basis for Latvia's economic success.
 

Name of country	Republic of Latvia
Country code	LV
Size of Area	64 589 km2
Population (2009)	2.249 million
Capital City	Riga
Ethnic Composition (beginning of 2008)	59.2% Latvian, 28.0% Russian, 3.7% Belarusian, 2.5% Ukrainian, 2.4% Polish, 1.3% Lithuanian, 0.5% Jewish, 2.4% other nationalities
Language	Latvian (official); Russian, English and German are also widely spoken
Political system	Republic, parliamentary democracy
Head of State	President Mr. Valdis Zatlers
Head of Government	Prime Minister Mr. Valdis Dombrovskis
Political Parties	People's Party (Tautas Partija) - 21; New Era Party (Jaunais Laiks) - 14 seats,  Union of Greens and Farmers ( Zaļo un Zemnieku Savienība) - 17, Uniformity Centre (Saskaņas Centrs) - 18; Latvian First Party (Latvijas Pirmā Partija) - 10, For Fatherland and Freedom (Tēvzemei un Brīvībai/LNNK) - 5, For Human Rights in United Latvia (Par Cilvēka Tiesībām Vienotā Latvijā )- 5, Civil Union (Pilsoniskā apvienība) - 7.
Membership in International Organizations	Member of NATO since 2004; Member of WTO since 1998
EU Membership	Since 2004
ECONOMIC INDICATORS
GDP(2008) GDP(2007)	23.112 million EUR  21.030 million EUR
Growth of GDP(2008) Growth of GDP(2007)	-4.6% 10.0%
GDP per capita(2008) GDP per capita(2007)	10199 EUR 9240 EUR
Private Consumption (percentage of GDP, 2008)	58.4%
Public Consumption (percentage of GDP, 2008)	20.0%
Capital Account Balance (2008)	340.2 million EUR
Gross Fixed Capital Formation (percentage of GDP, 2008)	30.2%
Growth of Industrial Production (percentage of GDP, 2008)	-6.5%
Government Revenue (percentage of GDP, 2008)	35.5%
Government Expenditure (percentage of GDP, 2008)	39.5%
Inflation Rate (2008)	15.4%
Rate of Real Wage Growth (2008)	6.1%
Unemployment Rate (2008)	7.5%
Fiscal Balance (percentage of GDP) (2008)	-3.3%
Current Accounts (2008)	-2919.0 million EUR;
Exports (2009)	5.081 billion EUR
Imports (2009)	6.593 billion EUR
Accumulated FDI (2009)	8.158 billion EUR
Accumulated FDI per capita (2009)	3627  EUR
Government Debt (2009)	4.714  billion EUR
Foreign Exchange Reserves (2008)	455.75 million EUR
Exchange Rate to EURO, fixed rate as of 2006	1 EUR = 0.702804 LVL
Credit Ratings: S&P Moody's Fitch Ratings (as at March 2010)	BB Baa3 BB+

Additional information at :
http://www.csb.lv/
http://www.bank.lv/
http://www.li.lv/
http://www.fitchratings.com/
http://www.moodyseurope.com/
http://www.standardandpoors.com/