Latvia is a small, open economy with exports contributing more than half of GDP. Due to its geographical location, transit services are highly-developed, along with timber and wood-processing, agriculture and food products, and manufacturing of machinery and electronics industries. Corruption continues to be an impediment to attracting foreign direct investment and Latvia's low birth rate and decreasing population are major challenges to its long-term economic vitality. Continued gains in competitiveness and investment will be key to maintaining economic growth, especially in light of unfavorable demographic trends, including the emigration of skilled workers, and one of the highest levels of income inequality in the EU.
Latvia country profile
bonita - Baltic Organisation and Network of Innovation Transfer Associations: Profiles
One World Nations Online. Flag of Latvia. Location map of Latvia. It reestablished its independence in following the breakup of the Soviet Union.
These are external links and will open in a new window. It has linguistic links with Lithuania to the south, and historical and religious ties with Estonia to the north. Not much more than a decade after it regained independence during the demise of the Soviet Union, Latvia was welcomed as an member of the European Union in May
The Republic of Latvia gained independence from the Soviet Union in Latvia is a republic with an unicameral parliament, called the Saeima, with elections occurring every four years. The population of Latvia is 2,, people. Currently, Latvia is the fastest growing economy in the European Union.