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Latvia
Chambre de Commerce - Fiche d'information pays Dernière mise à jour: 21.06.2018

Vos conseillers à la Chambre de Commerce

  • Steven Koener
    +352423939379
  • Violaine Mathurin
    +352423939481
Contactez-nous: europe@cc.lu

Indicateurs clés

Région
64,589 km2
Population
1,944,643 (July 2017 est.)
Type de gouvernement
parliamentary democracy
Langues
Latvian (official) 56.3%, Russian 33.8%, other 0.6% (includes Polish, Ukrainian, and Belarusian), unspecified 9.4%
PIB
$53.47 billion (2017 est.)
Taux de croissance
3.8% (2017 est.)
IHD
44
Capitale
Riga

 

Introduction

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 and the OECD in 2016. A dual citizenship law was adopted in 2013, easing naturalization for non-citizen children.

Source: The CIA World Factbook - Latvia

 

Indicateurs macroéconomiques

Following an exceptionally strong 2017, economic growth will moderate somewhat in 2018, to around 4%, as investment decelerates due to the slower pace of disbursements of EU funds. Emigration and low domestic labour mobility lead to skills shortages and mismatches, contributing to strong wage growth and rising inflationary pressures. Strong domestic demand will keep import growth high.

Fiscal policy will remain expansionary following tax reforms and welcome spending increase on health care. Reallocating spending toward higher minimum income support, better access to health care, more generous financial support for poor students, and policies to improve access to affordable housing in regions with strong employment growth would reduce poverty and boost productivity growth.

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

 

Le Luxembourg et le pays

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.1286)
  • Effective as of 01.01.2007 (Memorial 2006, A No.64, p.1286)

Air Services agreement

None

Source: Administration des contributions directes

 

Plus d'informations

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

Ambassador with residence in Warsaw: Mr Conrad BRUCH
UI Sloneczna 15
PL-00-789 Warsaw
Tel.: +48 22 507 86 50
Fax: +48 22 507 86 61
Email: varsovie.amb(at)mae.etat.lu

Honorary Consuls

Mrs Kristiana LIBANE-SKELE

68, rue Dzirnavu (2nd Floor)
LV-1050, Riga
Tél.: (+371) 67 11 61 09
Fax: (+371) 79 57 701
E-mails : kristiana(at)zeromail.lv / secretary(at)consulatelux.lv / consul(at)consulatelux.lv

Economic and Commercial Attaché (AWEX) in charge of Estonia, Lithuania, Finland and Latvia:

Mr Jean-Philippe Schklar 

Alberta iela 13 (5th floor)
LV - 1010 RIGA-Latvia
Tel: +371 6 703 93 21
E-mail: riga(at)awex-wallonia.com 

Source: Ministry of Foreign Affairs of Luxembourg
Source: AWEX 

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: ODL - Latvia

Useful links