Latvia Permanent Virtual Exhibition and Business Directory

For centuries Latvia was primarily an agricultural country, with fishing, forestry and seafaring making significant contributions to its economy. The Red Army invaded Latvia during World War II, initiating the country's Soviet period, which saw its rapid industrialisation and an influx of Russian immigrants. Latvia joined both NATO and the European Union in 2004 and plans to join the eurozone in 2014.

Latvia's natural resources include dolomite, gypsum, limestone, peat and timber. The country's agricultural output is limited to cattle, cereals, dairy foods and potatoes.

Latvian companies participate in a number of industries, including construction materials, light electrical equipment and fittings, machinery and tools, metalworking, processed foods, technological instruments and textiles. Latvia's most significant export markets are Lithuania, Estonia, Russia, Germany, Sweden and Denmark.

Forecasters are predicting the Latvian economy will grow more than 3% in 2011, and Standard & Poor's upgraded Latvia's sovereign credit rating in December 2010. US foreign direct investment in Latvia totaled $388 million as of the close of the third quarter of 2010. The Latvian government recently enacted a series of austerity measures that have already reduced the country's deficit by 13% of GDP.

LatviaExpoOnline.com is simply the most comprehensive Latvian business directory anywhere. Start here for information about how to start a business in Latvia, or if you're looking to partner with a great Latvian company.

Doing Business in Latvia

Latvia is a small, open economy with exports contributing significantly to its GDP. Due to its geographical location, transit services are highly-developed, along with timber and wood-processing, agriculture and food products, and manufacturing of machinery and electronic devices. The bulk of the country's economic activity, however, is in the services sector. Read Full Article

Investing in Latvia

On January 4, 2011 the Latvian GDP was down 0.4% last year but a 3.3% economic growth is likely this year, the Bank of Latvia said in its latest Macroeconomic Developments Report. Read Full Article