About Latvia...
Latviaofficially the Republic of Latvia is a country in the Baltic region of Northern Europe. It is bordered to the north by Estonia (343 km), to the south by Lithuania (588 km), to the east by the Russian Federation (276 km), and to the southeast by Belarus (141 km). Across the Baltic Sea to the west lies Sweden. The territory of Latvia covers 64,589 km2 (24,938 sq mi) and it has a temperate seasonal climate.Latvia regained independence in 1991. Following years of economic stagnation in the early 1990s, Latvia posted Europe-leading GDP growth figures during the 1998-2006 time period. In the global financial crisis of 2008-2010 Latvia was the hardest hit of the European Union member states, with a GDP decline of 26.54% in that period. Per Capita its GDP is only 57.3% of the EU average, making it one of the poorest member-states.[7] In 2009, Latvia underwent a tempestuous change of government, and as a result, the country is facing renewed political instability. Latvia is a member of the World Trade Organization (1999) and the European Union (2004). Since the year 2000 Latvia has had one of the highest (GDP) growth rates in Europe. However, the chiefly consumption-driven growth in Latvia resulted in the collapse of the Latvian GDP in late 2008 and early 2009, exacerbated by the global economic crisis and shortage of credit. Latvian economy fell 18% in the first three months of 2009, the biggest fall in the European Union. According to Eurostat data, Latvian PPS GDP per capita stood at 56 per cent of the EU average in 2008.
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| Exports To Latvia Facts |
| Location: |
Eastern Europe |
| Coordinates: |
57 00 N, 25 00 E |
| Int. Dialing Code: |
+371 |
| Currency: |
lati (LVL) |
| Language: |
Lutheran |
| Area: |
64,589 sq km |
| Capital City: |
Riga |
| Population: |
2,231,503 (July 2009 est.) |
| Population Ranking: |
141 |
| Employment: |
83.4% |
| Inflation: |
3.3% (2009 est.) |
| GDP: |
$32.4 billion (2009 est.) |
| GDP Ranking: |
105 |
| GDP Growth: |
-17.8% (2009 est.) |
| Internet Users: |
1.254 million (2008) |
| Television Stations: |
37 |
| Phone Lines: |
644,000 (2008) |
| Mobile Phones: |
2.234 million (2008) |
| Major Industry: |
buses, vans, street and railroad cars; synthetic fibers, agricultural machinery, fertilizers, washing machines, radios, electronics, pharmaceuticals, processed foods, textiles |
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