Overview Latvia

Currency Lat (LVL) = 100 santims
Fiscal year Calendar year
Trade organisations EUWTONordic Investment Bank
Statistics
GDP $26.141 billion (2011 est.)
GDP growth 5.5% (2011)
GDP per capita $12 922,8 (2011 est.)
GDP by sector agriculture: 3.6%; industry: 24%; services: 72.4% (2009 est.)
Inflation (CPI) 3.4% (2012 July)
Gini coefficient 35,2 (2010)
Labour force 1.205 million (2009 est.)
Labour force
by occupation
agriculture: 12.1%; industry: 25.8%; services: 61.8% (2005 est.)
Unemployment 15.2 % (Q1 2012)[1]
Average gross salary 445 LVL / 890 $, monthly (2010)[2]
Average net salary 316 LVL / 632 $, monthly (2010)[2]
Main industries buses, vans, street and railroad cars; synthetic fibers, agricultural machinery, fertilizers, washing machines, radios, electronics, pharmaceuticals, processed foods, textiles; note – dependent on imports for energy and raw materials
Ease of Doing Business Rank 21st[3]
External
Exports $6.721 billion (2009 est.)
Export goods wood and wood products, machinery and equipment, metals, textiles, foodstuffs
Main export partners Lithuania 18.1%, Estonia 13.6%,Russia 10.6%, Germany 8.3%,Sweden 6.3%, Poland 5.9%, Denmark3.4%, Finland 3.1%, UK 3.1%,Netherlands 2.3% (2011)
Imports $8.849 billion (2009 est.)
Import goods machinery and equipment, chemicals, fuels, vehicles
Main import partners Lithuania 16%, Germany 12.8%,Russia 10.6%, Poland 7%, Estonia 7%,Sweden 4.3%, Finland 4.3% (2008)
FDI stock $11.46 billion (31 December 2009 est.)
Gross external debt $38.01 billion (31 December 2009 est.)
Public finances
Public debt 32.5% of GDP (2009 est.)
Revenues $9.501 billion (2009 est.)
Expenses $12.15 billion (2009 est.)
Economic aid recipient: $96.2 million (1995)
Foreign reserves US$8.961 billion (April 2011)[6]
Main data source: CIA World Fact Book
All values, unless otherwise stated, are in US dollars

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