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Latvia
Handelskammer - Land Infoblatt Letztes Update: 10.01.2020

Ihre Berater bei der Handelskammer

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

Kennzahlen

Bereich
64,589 km2
Bevölkerung
1,944,643 (July 2017 est.)
Regierungsform
parliamentary democracy
Sprachen
Latvian (official) 56.3%, Russian 33.8%, other 0.6% (includes Polish, Ukrainian, and Belarusian), unspecified 9.4%
BIP
$53.47 billion (2017 est.)
Wachstumsrate
3.8% (2017 est.)
HDI
44
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 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

 

Makroökonomische Indikatoren

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 descriptor20182019202020212022
Gross domestic product, constant prices
Percent change
4.7702.8362.7942.8953.023
Gross domestic product, current prices
U.S. dollars (Billions)
34.88235.04536.77139.10741.456
Gross domestic product per capita, current prices
U.S. dollars (Units)
18,032.61718,171.65119,104.84120,359.18521,625.019
Inflation, average consumer prices
Percent change
2.5542.9962.5872.3092.188
Volume of imports of goods and services
Percent change
5.1053.2003.1003.1003.100
Volume of exports of goods and services
Percent change
1.8342.0002.3452.2842.246
Unemployment rate
Percent of total labor force
7.4156.5036.7046.8757.046
Current account balance
U.S. dollars (Billions)
-0.336-0.642-0.761-0.891-1.073
Current account balance
Percent of GDP
-0.962-1.832-2.069-2.278-2.589
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.1286)
  • Effective as of 01.01.2007 (Memorial 2006, A No.64, p.1286)

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

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

Source: Ministry of Foreign Affairs of Luxembourg

 

Economic and Commercial Attaché (AWEX) in charge of Finland and Latvia

Economic and Commercial AttachéMr 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: 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

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