
Small Is Beautiful
Encouraged by government stimulus programs, banks are finding new ways to finance SMEs. Once the economy recovers, will the surge of interest recede?
Browse additional economic indicators and data sets, selected by Global Finance editors, to learn more about Latvia economic outlook, debt to GDP ratio, international trade performance and population trends. Rankings of Latvia best banks and safest banks are also available.
The tax wedge is the ratio of total labor taxes to total labor costs. It is often lower for families with children and single parents with children than for individuals or couples without children. The tax wedge has an impact on employment growth.
USD 3.3 billion (2016)
International Monetary Fund (IMF), data retrieved January 2017
USD 29.6 billion (2017, estimate)
Intl$ 53.7 billion (2017, estimate)
2006 | 2007 | 2008 | 2009 | 2010 | 2011 | 2012 |
11.9% | 10% | -3.6% | -14.4% | -3.8% | 6.2% | 4% |
2013 | 2014 | 2015 | 2016* | 2017* | ||
2.9% | 2% | 2.7% | 2.5% | 3.4% |
*Estimate
USD 15,072.3 (2017, estimate)
1980 | 1990 | 2000 | 2010 | 2017* |
N/A | N/A | 0.05% | 0.04% | 0.04% |
*Estimate
(2016 estimate)
2013 | 2014 | 2015 | 2016* | 2017* |
0.0% | 0.7% | 0.2% | 0.2% | 1.7% |
*Estimate
2013 | 2014 | 2015 | 2016* | 2017* |
11.9% | 10.8% | 9.9% | 9.4% | 9.2% |
*Estimate
2013 | 2014 | 2015 | 2016* | 2017* |
35.9% | 38.6% | 34.9% | 35.1% | 34.7% |
*Estimate
2013 | 2014 | 2015 | 2016* | 2017* |
-0.6% | -1.7% | -1.8% | -1.2% | -1.2% |
*Estimate
Standard & Poor's: A-
Moody's: A3
Standard & Poor's / Moody's (Updated January 2017)
2013 | 2014 | 2015 |
N/A | N/A | N/A |
-1.2% (2017 estimate)
59.0% (2015)
0.07% (2015)
0.09% (2015)
Foodstuffs, wood and wood products, metals, machinery and equipment, textiles
Machinery and equipment, consumer goods, chemicals, fuels, vehicles
Lithuania 17.8%, Russia 11.5%, Estonia 11.1%, Germany 6.3%, Poland 5.6%, Sweden 5.2%, UK 5%, Denmark 4% (2015)
Lithuania 16.9%, Germany 11.2%, Poland 10.5%, Russia 8.1%, Estonia 7.7%, Finland 5.2%, Netherlands 4% (2015)
2013 | 2014 | 2015 |
USD 903 million | USD 595 million | USD 643 million |
2013 | 2014 | 2015 |
USD 411 million | USD 286 million | USD 16 million |
2012 | 2013 | 2014 | 2015 |
N/A | N/A | N/A | N/A |
N/A
N/A
Economies are ranked on their ease of doing business. A high ease of doing business ranking means the regulatory environment is more conducive to the starting and operation of a local firm.
Overall ranking: 14 out of 190 countries (2017)
Subcategories:
Starting a business: 22 out of 190 countries
Enforcing Contracts: 23 out of 190 countries
Registering Property: 23 out of 190 countries
Getting Credit: 7 out of 190 countries
Protecting Minority Investors: 42 out of 190 countries
Trading Across Borders: 25 out of 190 countries
Paying Taxes: 15 out of 190 countries
Dealing with Construction Permits: 23 out of 190 countries
Getting Electricity: 42 out of 190 countries
Resolving Insolvency: 44 out of 190 countries
49 out of 138 countries
(2016-2017)
Ranking: 36 / Score: 70.41 (Mostly free) (2016)
(100=totally free 0=totally repressed)
Latvian (official) 56.3%, Russian 33.8%, other 0.6% (includes Polish, Ukrainian, and Belarusian), unspecified 9.4% (2011 est.)
Lutheran 19.6%, Orthodox 15.3%, other Christian 1%, other 0.4%, unspecified 63.7% (2006)
1990 | 2000 | 2010 | 2016* | 2021* |
N/A | 2.382 million | 2.121 million | 1.976 million | 1.947 million |
*Estimate
1960 | 1980 | 2000 | 2015 |
53% | 67% | 68% | 67% |
Total population: 99.9%
Male: 99.9%
Female: 99.9% (2015 est.)
(age 15 and over can read and write)
1.3% (2012)
35.5 (2012)
(0=perfect equality, 100=absolute inequality)
Political Rights: 1
Civil Liberties: 2 (2017)
(1 represents the most free, 7 the least free rating)
Fixed 17.53% Mobile 127.50% (2015)
(fixed-telephone subscribers and mobile-cellular subscribers)