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 (at the beginning of 2009)	2,261 million
Capital City	Riga
Ethnic Composition (beginning of 2008)	59.3% Latvian, 27.8% Russian, 3.6% Belarusian, 2.5% Ukrainian, 2.4% Polish, 1.3% Lithuanian, 0.4% Jewish, 2.7% 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 (elected in 2007 by Parliament for a four-year term)
Head of Government	Prime Minister Mr Valdis Dombrovskis
Political Parties	People's Party (Tautas partija) - 18,  Greens and Farmers Union (Zaļo un Zemnieku savienība) - 17, New Era (Jaunais laiks) - 15 seats,  Concord Centre (Saskaņas Centrs) - 18; Latvia’s First Party/Latvia`s Way (Latvijas Pirmā partija/Latvijas Ceļš) - 10, For Fatherland and Freedom (Tēvzemei un Brīvībai/LNNK) - 5, For Human Rights in a United Latvia (Par cilvēka tiesībām vienotā Latvijā ) - 5, Civic Union (Pilsoniskā Savienība) - 7.
Membership in International Organizations	Member of NATO since 2004; Member of WTO since 1998
EU Membership	Since 2004
ECONOMIC INDICATORS
GDP(2009) GDP(2008)	EUR 18.845 billion EUR 23.157 billion
Growth of GDP(2009) Growth of GDP(2008)	-18% -4.6%
GDP per capita(2009) GDP per capita(2008)	EUR 8,358 EUR 10,174
Private Consumption (percentage of GDP, 2009)	61%
Public Consumption (percentage of GDP, 2009)	21%
Capital Account Balance (2009)	EUR 451.3 million
Gross Fixed Capital Formation (percentage of GDP, 2009)	21.3%
Growth of Industrial Production (as % of previous period, data adjusted by number of working days, 2009)	-15.8%
Government Revenue (percentage of GDP, 2009)	34%
Government Expenditure (percentage of GDP, 2009)	42.9%
Inflation Rate (2009)	3.5%
Rate of Real Wage Growth (2009)	-5.6%
Unemployment Rate (2009)	11.9%
Fiscal Balance (percentage of GDP) (2009)	-8.9%
Current Accounts (2009)	EUR 1.779 billion
Exports of goods and services (2009)	EUR 7.948 billion
Imports of goods and services (2009)	EUR 8.124 billion
Accumulated FDI (2009)	8.158 billion EUR
Accumulated FDI per capita (2009)	3627  EUR
Government Debt (2009)	EUR 6.806 billion
Foreign Exchange Reserves (Reserve Assets, 2009)	EUR -923.8 million
Exchange Rate to EURO, fixed rate as of January 1, 2005	1 EUR = 0.702804 LVL
Credit Ratings: Standard &Poor’s Moody's Fitch R&I (as at April 2010)	BB Baa3 BB+ 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/