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Latvia
Handelskammer - Land Infoblatt Letztes Update: 15.05.2017

Ihre Berater bei der Handelskammer

  • Steven Koener
    +352423939379
  • Diana Rutledge
    +352423939335
Kontaktieren Sie uns: europe@cc.lu

Kennzahlen

Bereich
64,589 km2
Bevölkerung
1,986,705 (July 2015 est.)
Regierungsform
parliamentary democracy
Sprachen
Latvian (official) 58.2%, Russian 37.5%, Lithuanian and other 4.3% (2000 census)
BIP
$49.08 billion (2015 est.)
Wachstumsrate
2.7% (2015 est.)
HDI
46
Hauptstadt
Riga

 

Einführung

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 26% 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.

Source: The CIA World Factbook - Latvia

 

Makroökonomische Indikatoren

The economy is projected to recover from the temporary weakness in the last quarter of 2015 and first quarter of 2016 related to the expiry of EU funds and the sharp decline of economic relations with Russia. Strong wage growth underpins solid spending by private households. Uncertainty is holding back investment, but this will be gradually overcome once the recovery of the euro area generates healthier export markets.

The accommodative monetary conditions provided by the ECB will make it easier for investment to recover, which is important for continuing Latvia’s catch-up to the higher incomes of the Nordic region. Fiscal policy is on track to achieve its targets. Structural policies need to prioritise measures which increase productivity and improve social cohesion.

Productivity will be crucial in the catch-up process. Policies need to continue improving the business environment and strengthening the capacity of the vocational education system to provide graduates with employable and internationally competitive skills. Stepping up tax collection will widen the fiscal room to finance growth-enhancing structural reforms and reduce taxes on low wages.

Source: OECD - Economic Forecast

IMF Statistics:

Subject descriptor20142015201620172018
Gross domestic product, constant prices
Percent change
2.0402.7322.5443.3713.712
Gross domestic product, current prices
U.S. dollars (Billions)
31.30326.95727.94529.63631.509
Gross domestic product per capita, current prices
U.S. dollars (Units)
15,639.86713,573.03814,140.92615,072.29816,072.806
Inflation, average consumer prices
Percent change
0.6900.2130.2001.7002.000
Volume of imports of goods and services
Percent change
0.7582.0252.5163.3574.600
Volume of exports of goods and services
Percent change
3.1181.3742.3123.0834.300
Unemployment rate
Percent of total labor force
10.8439.8779.4339.2469.016
Current account balance
U.S. dollars (Billions)
-0.620-0.332-0.560-0.354-0.461
Current account balance
Percent of GDP
-1.982-1.233-2.005-1.195-1.463
Colored cells are estimates

Source: IMF Statistics - Latvia

 

Luxemburg und das Land

Existing conventions and agreements

Non double taxation agreement 

In order to promote international economic and financial relations in the interest of the Grand Duchy of Luxembourg, the Luxembourg government negotiates bilateral agreements for the avoidance of double taxation and prevent fiscal evasion with respect to Taxes on Income and on fortune with third countries.

  • Convention from 14.06.2004 (Memorial 2006, A, no. 64, p. And 1286 ff.)
  • Effective as of 01.07.2007 (Memorial 2006, A, no. 104, p. 1907)

Air Services agreement

None

Source: Administration des contributions directes

 

Weitere Informationen

Foreign Trade

The Statec Foreign Trade statistics provide information on the trade of goods - by product and by country. This information is collected respectively through the INTRASTAT declaration and on the basis of customs documents.

You can see the statistics on the website of the Statec.

Contact Points in Latvia

Embassy of the Grand Duchy of Luxembourg in Latvia

Ambassador with residence in Warsaw: Conrad BRUCH
15 IU Sloneczna
PL-00-789 Warsaw

Tel.: +48 22 507 86 50
Fax: +48 22 507 86 61
Email: varsovie.amb(at)mae.etat.lu

Economic and Commercial Attaché (AWEX):

André VILLERS 

Alberta iela 13 (5 th floor)
LV - 1010 RIGA-Latvia

Tel: +371 6 703 93 21
Fax: +371 6 703 93 24
E-mail: riga(at)awex-wallonia.com 

Honorary Consul:
Kristiana Libane Skele

68/2 2nd floor
68 Street Dzirnavu,
LV-1050, Riga,

Tel: + 371 671 161 69
Fax: + 371 795 77 01
E-mail: kristiana(at)zeromail.lv / secretary(at)consulatelux.lv / 
consul(at)consulatelux.lv

Source: www.mae.lu 
Source: www.awex.be 

Country risk as defined by Office du Ducroire for Latvia

Ducroire is the only credit insurer covering open account deals in over 200 countries. A rating on a scale from 1 to 7 shows the intensity of the political risk. Category 1 comprises countries with the lowest political risk and category 7 countries with the highest. Macroeconomics experts also assess the repayment climate for all buyers in a country.

Link: http://www.ducroire.lu/en/node/41?country=124

Useful links

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