Market Research In Latvia

Latvia Profile:

  • Latvia, officially the Republic of Latvia, is a country in the Baltic region of Northern Europe, one of the three Baltic States.
  • Latvia is a member of the European Union, NATO, the Council of Europe, the United Nations, CBSS, the IMF, NB8, NIB, OECD, OSCE and WTO.
  • Latvia has established diplomatic relations with 158 countries. It has 44 diplomatic and consular missions and maintains 34 embassies and 9 permanent representations abroad.
  • Latvia was ranked 46th on the Human Development Index and as a high income country on 1 July 2014. Latvia is ranked above-average among the world’s sovereign states in democracy, press freedom, privacy and human development.
  • Privatisation in Latvia is almost complete. Virtually all of the previously state-owned small and medium companies have been privatised, leaving only a small number of politically sensitive large state companies.

Latvia Economy:

  • Latvia is a small, open economy with exports contributing more than half of GDP. Since 2000, Latvia had one of the highest (GDP) growth rates in Europe.
  • The IMF, EU, and other international donors provided substantial financial assistance to Latvia as part of an agreement to defend the currency’s peg to the euro in exchange for the government’s commitment to stringent austerity measures.
  • The unemployment rate has receded from its peak of more than 20% in 2010 to around 9.3% in 2014.
  • 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 unfavourable demographic trends.

Latvia Facts:

  • Population: 1.9 million
  • Capital: Riga
  • Largest city: Riga
  • Area: 64,589 sq km
  • Major language: Latvian (official) 56.3%, Russian 33.8%, other 0.6%
  • Major religion: Lutheran 19.6%, Orthodox 15.3%, other Christian 1%, other 0.4%
  • Life expectancy: 70.1 years (Male), 79.5 years (Female)
  • Monetary unit: 1 Euro(EUR) = 100 Cents
  • Main exports: Foodstuffs, wood and wood products, metals, machinery and equipment, textiles
  • GNI per Capita: $25,870

Our Market Research Services in Latvia:

We Employ A Wide Range of Research Techniques in Latvia:

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