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Feb 16, 2022 · In 2021, goods were exported from Latvia to 195 countries worldwide. The five largest export partners were Lithuania, Estonia, the United Kingdom, Germany and the Russian Federation. Their share comprised 50.8 % of the total exports value.
Apr 26, 2024 · From hardliner Dmitri Medvedev’s wine to raw materials for the arms industry, Russian imports are transiting Latvia in spite of the latter’s hawkish stance towards Moscow.
- Production Approach
- Expenditure Approach
- Income Approach
In 2021, value added of producing sectors increased by 0.9 %, while growth in services sectors was more substantial at 6.2 %. The agriculture, forestry and fishing sectors declined by 6.8 %, which was mainly affected by production output decline in all sub-sectors: by 8.0% in crop and livestock production, forestry and logging – by 4.9 %, and by 10...
In 2021, the restrictions related to Covid-19 continued and two home ranges were introduced (in January and October 2021). Although the restrictions broadly affected a large part of the economy, the economy has been able to adapt to the restrictions. In 2021, total household final consumption expenditure increased by 4.8 % compared to the previous ...
In 2021, total compensation of employees increased by 7.9 %, including an 8.3 % increase in total wages and a 6.3 % increase in employers' social contribution. The highest increase in total compensation of employees is in the public administration and defence, compulsory social insurance, education, health and social work group, up by 15.4 %, mainl...
The first half of 2021 saw a recovery in economic activity. Latvia recorded a milder GDP decline in 2020 than the EU average. The effects of the Covid-19 pandemic were mitigated by stable exports to Nordic trading partner countries and the country’s relatively limited dependence on tourism.
Industry served local markets, while timber, paper and agricultural products were Latvia's main exports. Prior to World War I, Latvia was an advanced manufacturing hub within the Russian Empire, primarily serving the Russian market. [37]
In 2021, Latvia’s economy grew by 4.5% surpassing its pre-pandemic level. However, the recovery has been uneven – while goods exports and public consumption spearheaded the recovery, household consumption remained subdued and exports of services remained significantly below their pre-crisis level.
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Mar 1, 2022 · Attracted investments by LIAA in 2021: Investments attracted: 643 million euro. New jobs created: 2650. Successfully implemented investment projects: 32. The average value of each investment project: 20 million euro.
