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)
Inflation of Latvia
Unemployment9.80 % (2013)11.4 % (2012)12.8 % (2011)
Unemployment of Latvia
GDP - Official Exchange Rate30.4 Billion $ (2013)28.0 Billion $ (2012)28.5 Billion $ (2011)
GDP - Official Exchange Rate of Latvia
GDP growth rate4.00 % (2013)5.60 % (2012)5.50 % (2011)
GDP growth rate of Latvia
GDP per Capita (PPP)19,100 $ (2013)18,100 $ (2012)17,100 $ (2011)
GDP per Capita (PPP) of Latvia
GDP - Purchasing Power Parity38.9 Billion $ (2013)36.9 Billion $ (2012)35.5 Billion $ (2011)
GDP - Purchasing Power Parity of Latvia
GDP PPP per land area602 Thousand $ per square kilometer (2013)571 Thousand $ per square kilometer (2012)549 Thousand $ per square kilometer (2011)
GDP PPP per land area of Latvia
ElectricityBanking
Central bank discount rate3.50 % (2011)3.50 % (2010)4.00 % (2009)
Central bank discount rate of Latvia
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 arrivals of Latvia
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
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 (Total) of Latvia
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)
External Debt per Capita of Latvia