Country Summary: Latvia (Republic of Latvia)
Country Name: Latvia (Republic of Latvia)
Capital: Riga
Government Type: parliamentary republic
Background: Several eastern Baltic tribes merged in medieval times to form the ethnic core of the Latvian people (ca. 8th-12th centuries A.D.). The region subsequently came under the control of Germans, Poles, Swedes, and finally, Russians. A Latvian republic emerged following World War I, but it was annexed by the USSR in 1940 - an action never recognized by the US and many other countries. Latvia reestablished its independence in 1991 following the breakup of the Soviet Union. Although the last Russian troops left in 1994, the status of the Russian minority (some 25% of the population) remains of concern to Moscow. Latvia acceded to both NATO and the EU in the spring of 2004; it joined the euro zone in 2014 and the OECD in 2016. A dual citizenship law was adopted in 2013, easing naturalization for non-citizen children.
Continent: Europe
Population: 1,821,750 (2023 est.)
Ethnic Groups: Latvian 62.7%, Russian 24.5%, Belarusian 3.1%, Ukrainian 2.2%, Polish 2%, Lithuanian 1.1%, other 1.8%, unspecified 2.6% (2021 est.)
Languages: Latvian (official) 56.3%, Russian 33.8%, other 0.6% (includes Polish, Ukrainian, and Belarusian), unspecified 9.4%; note - data represent language usually spoken at home (2011 est.)
Religions: Lutheran 36.2%, Roman Catholic 19.5%, Orthodox 19.1%, other Christian 1.6%, other 0.1%, unspecified/none 23.5% (2017 est.)
Economic Overview: high-income, EU-member Baltic economy; export-driven; Russian invasion of Ukraine has caused a temporary labor force surge and impacted growth due to Russian trade reliance; highly developed transit services
Currency: European Euro (EUR)
Reserves of Foreign Exchange & Gold: $4.46 billion (2022 est.) note: holdings of gold (year-end prices)/foreign exchange/special drawing rights in current dollars
Real GDP (Purchasing Power Parity): $62.005 billion (2022 est.) note: data in 2017 dollars
Real GDP Growth Rate: 3.36% (2022 est.) note: annual GDP % growth based on constant local currency
Real GDP per Capita: $33,000 (2022 est.) note: data in 2017 dollars
Exports:
$29.374 billion (2022 est.) note: balance of payments - exports of goods and services in current dollars
Comparison Ranking: 79
Export Commodities: lumber, wheat, broadcasting equipment, packaged medicines, fuel woods, hard liquors (2021)
Export Partners: Lithuania 17%, Estonia 9%, United Kingdom 8%, Germany 7%, Russia 7% (2021)
Imports:
$31.213 billion (2022 est.) note: balance of payments - imports of goods and services in current dollars
Comparison Ranking: 80
Import Commodities: refined petroleum, packaged medicines, broadcasting equipment, electricity, cars, natural gas (2021)
Import Partners: Lithuania 15%, Russia 14%, Germany 9%, Poland 8%, Estonia 8% (2021)
Natural Resources: peat, limestone, dolomite, amber, hydropower, timber, arable land
Agricultural Products: wheat, milk, rapeseed, barley, oats, potatoes, rye, beans, pork, poultry
Industries: processed foods, processed wood products, textiles, processed metals, pharmaceuticals, railroad cars, synthetic fibers, electronics
Industrial Production Growth Rate:
-2.16% (2022 est.) note: annual % change in industrial value added based on constant local currency
Comparison Ranking: 190
Labor Force: 970,000 (2022 est.)
Unemployment Rate: 6.81% (2022 est.) note: % of labor force seeking employment
Natural Hazards: large percentage of agricultural fields can become waterlogged and require drainage
Geography:
Total: 64,589 sq km
Land: 62,249 sq km
Water: 2,340 sq km
(Country Summary, The World Factbook, CIA.gov)
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