Latvia at a glance

Latvia is situated in the northeast part of Europe on the shore of the Baltic Sea and borders with the two other Baltic States - Estonia and Lithuania as well as Russia and Belarus. The strategic location of Latvia has been the major influence on the country's diverse historical and cultural experiences. Today, it is this location which forms the basis for Latvia's economic success. For additional information please visit www.csb.lv, www.bank.lv or www.li.lv or www.liaa.gov.lv

Political System Republic, parliament democracy
International membership

Member of EU and NATO since 2004

Member of WTO since 1998

Head of State - President Mr. Raimonds Vejonis
Prime Minister Mr. Maris Kucinskis
Capital Riga
Other major cities Ventspils, Liepaja, Daugavpils, Jelgava, Jurmala
Population (2013) 2.02 million
Area 64,589 km
Language Latvian (official); Russian; English and German are also widely spoken
Legal system Based on civil law
Religions Lutheran, Roman Catholic, Orthodox
National day November 18
Currency Lats (LVL), changing to Euro 1/1/2014
Exchange rate (2016)

1 LVL=1.423 EUR

1 LVL = 1.61 USD

International country ID LV
International dialingcode +371
Time zone GMT -2
Climate Moderate oceanic climate
GDP (2012) 22,082 bn EUR
GDP growth (2013) 30.96 billion USD
GDP growth rate average (2012) 3.6%
GDP per capita (2013) 15.375.45 USD
Inflation rate in 2016 0.60%
Employment growth (12 mo to Q3 2013) 2.8%
Unemployment rate (2016) 9.8%

Source: Central Statistical Bureau of Latvia, 2013