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Central and Eastern Europe have attracted strategic initiatives for many years. Its geographical location between Western Europe and Asia, its various political systems and aspects, as well as its intellectual richness give a strategic meaning to this part of the world.

Latvia

Market information
 

  • Latvia has been Member of European Union since 2004.
  • The country suffered from the global economic crisis of 2008, however, it quickly recovered (EU aid plan / International Money Fund 2011).
  • Latvia has a strategic geographic location at the EU's borders and is a gateway to Russia and Scandinavia.
     

French exports to Latvia consist mainly of intermediate goods, capital, consumption (31%) and food products (33%), while Latvian exports to France mainly concern energy products (56%) and wood (16%). The main contract prospects today concern the railway sector (lines Riga-Moscow-Vilnius and Tallinn).

 

Strengths

  • Sectors of construction and services
  • Falling unemployment
  • Growth in the labour force
  • Rising consumption and wages
     

Weaknesses

  • Decline in manufacturing out put
  • Construction sector in difficulty
  • Energy dependence vis-à-vis foreign countries (67%)

 

 

  FACT SHEET
Capital
Riga
Surface area
65 597 km²
Population
2 million inhabitants
Currency
Euro (EUR)
GDP Growth
2.6 % in 2014
Per capita GDP
16 142 USD
Corporate taxes
34 %
Social security contributions
33 %
Working week
40 hours / week
Paid leave
Min. 20 days / year
Country COFACE notation
B
Business environment
A3
French subsidiaries
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