Economy of Latvia

Imports

Imports commoditiesmachinery and equipment, consumer goods, chemicals, fuels, vehicles

Import partnersLithuania 19.1%, Germany 11.6%, Russia 9.2%, Poland 8.2%, Estonia 7.6%, Italy 4.6%, Finland 4.4% (2012)

Exports

Exports commoditiesfood products, wood and wood products, metals, machinery and equipment, textiles

Export partnersRussia 18.2%, Lithuania 14.9%, Estonia 12.1%, Germany 7.5%, Poland 5.6%, Sweden 4.8% (2012)

Economy sectors

Agriculture productsgrain, rapeseed, potatoes, vegetables; pork, poultry, milk, eggs; fish

Industrial productsprocessed foods, processed wood products, textiles, processed metals, pharmaceuticals, railroad cars, synthetic fibers, electronics

Economy

Unemployment Rate (not seasonally adjusted)11.8 % (2013-09)11.8 % (2013-08)11.8 % (2013-07)11.4 % (2013-06)11.4 % (2013-05)11.4 % (2013-04)

Unemployment Rate (not seasonally adjusted) of Latvia

Unemployment Rate (seasonally adjusted)11.4 % (2014-03)11.4 % (2014-02)11.4 % (2014-01)11.5 % (2013-12)11.5 % (2013-11)11.5 % (2013-10)11.7 % (2013-09)11.7 % (2013-08)11.7 % (2013-07)11.7 % (2013-06)11.7 % (2013-05)11.7 % (2013-04)

Unemployment Rate (seasonally adjusted) of Latvia

Reserves of foreign exchange and gold7.22 Billion $ (2013)7.52 Billion $ (2012)6.38 Billion $ (2011)

Reserves of foreign exchange and gold of Latvia

Harmonized Indices of Consumer Prices0.80 Percentage change m/m-12 (2014-05)0.80 Percentage change m/m-12 (2014-04)0.30 Percentage change m/m-12 (2014-03)0.50 Percentage change m/m-12 (2014-02)0.50 Percentage change m/m-12 (2014-01)-0.40 Percentage change m/m-12 (2013-12)-0.30 Percentage change m/m-12 (2013-11)-0.40 Percentage change m/m-12 (2013-09)-0.10 Percentage change m/m-12 (2013-08)0.50 Percentage change m/m-12 (2013-07)

Harmonized Indices of Consumer Prices of Latvia

Inflation0.20 % (2013)2.30 % (2012)4.40 % (2011)

Unemployment9.80 % (2013)11.4 % (2012)12.8 % (2011)

GDP - Official Exchange Rate30.4 Billion $ (2013)28.0 Billion $ (2012)28.5 Billion $ (2011)

GDP growth rate4.00 % (2013)5.60 % (2012)5.50 % (2011)

GDP per Capita (PPP)19,100 $ (2013)18,100 $ (2012)17,100 $ (2011)

GDP - Purchasing Power Parity38.9 Billion $ (2013)36.9 Billion $ (2012)35.5 Billion $ (2011)

GDP PPP per land area602 Thousand $ per square kilometer (2013)571 Thousand $ per square kilometer (2012)549 Thousand $ per square kilometer (2011)

Electricity

Electricity - installed generating capacity2.17 Million kW

Banking

Central bank discount rate3.50 % (2011)3.50 % (2010)4.00 % (2009)

Commercial bank prime lending rate5.00 % (2013)5.52 % (2012)6.39 % (2011)

Commercial bank prime lending rate of Latvia

GDP decomposition by sector

Agriculture % of GDP4.90 % (2013)5.00 % (2012)

Industry % of GDP25.7 % (2013)25.7 % (2012)

Services % of GDP69.4 % (2013)69.3 % (2012)

Tourism

International tourism, number of arrivals1.44 Million (2012)1.49 Million (2011)1.37 Million (2010)

International tourism, number of departures3.26 Million (2011)3.33 Million (2010)3.27 Million (2009)

International tourism, number of departures of Latvia

Yearly Tourist arrivals to residents ratio65.5 % (2012)67.7 % (2011)65.5 % (2010)

Yearly Tourist arrivals to residents ratio of Latvia

Debt, Current Account Balance and Budget Deficit

Public debt (Percentage of GDP)39.2 % of GDP (2013)40.7 % of GDP (2012)43.7 % of GDP (2011)

Public debt (Percentage of GDP) of Latvia

Budget surplus (+) or deficit (-)0.10 % of GDP

Current Account Balance (Percentage of GDP)-2.47 % of GDP (2012)-2.21 % of GDP (2011)3.01 % of GDP (2010)

Current Account Balance (Percentage of GDP) of Latvia

Current Account Balance (Total)-613.90 Million $ (2013)-473.40 Million $ (2012)-363.00 Million $ (2011)

Current Account Balance (Total) of Latvia

External Debt (Total)39.9 Billion $ (2013)39.4 Billion $ (2012)37.5 Billion $ (2011)

External Debt (Percentage of GDP)131 % of GDP (2013)141 % of GDP (2012)132 % of GDP (2011)

External Debt (Percentage of GDP) of Latvia

External Debt per Capita18,302 $ (2013)17,992 $ (2012)17,005 $ (2011)