Lewes, DE -- (SBWIRE) -- 06/13/2017 -- As per International Monetary Fund (IMF) Latvia's real gross domestic product is expected to grow at a CAGR of 3.34% from its 2015 level of euro 21.364 billion and reach euro26.88 billion by 2022.

Latvia, officially the Republic of Latvia, is a country in the Baltic region of Northern Europe. It is bordered by Estonia, Lithuania, Russia, Belarus and by a maritime border to the west with Sweden. Latvia has over 2 million inhabitants and total land of 62249 sq. Latvia is a democratic parliamentary republic established in 1918. The capital city is Riga, the European Capital of Culture 2014. Latvian is the official language. Latvia is a unitary state. Latvia is a member of NATO, European Union, United Nations, Council of Europe, CBSS, IMF, NB8, NIB, OSCE, WTO and OECD. For 2013, Latvia is listed 44th on the Human Development Index and as a high income country. It used the Latvian lats as its currency until this was replaced by the euro on 1 January 2014

Latvia had estimated population of 1.969 million in the year 2016 and expected to decrease and reach 1.936 million by 2022. Latvia's around 0.893 million was employed in 2016 and the unemployment rate was 9.64% of total labor force.

Latvia's real gross domestic product (GDP) was around Euro 21.781 billions in 2016 whereas the nominal GDP was Euro 25.018 billions. This resulted in GDP deflator 114.86. Per capita GDP was estimated at USD 14060.40 whereas purchasing power parity (PPP) based per capita GDP was estimated to be at USD 25709.81.

In 2016, Latvian government's revenue was Euro 9.07 billions whereas the expenditure was Euro 9.172 billions. This resulted Latvian government's net lending / borrowing negative at Euro 0.102 billion in 2016 indicating that enough financial resources were not made available by the government to boost economic growth.

The current account balance for Latvia was estimated to be at USD 0.409 billions for the year 2016 and is expected to decrease at a CAGR of 13.74% and reach USD 0.517 by 2022. This negative current account balance indicates the Latvia is net borrower from the whole world.

Scope of the Latvia PESTEL Analysis, SWOT Analysis and Risk Analysis Market Research Reports

- These reports provide information about key macroeconomic indicators for Latvia.

- These reports provide PESTELE (political, economic, social, technological, environmental and legal) analysis for Latvia.

- These reports provide SWOT (strengths, weaknesses, opportunities and threats) analysis for Latvia.

- These reports provide risk analysis for Latvia.

For more information and to purchase Latvia PESTEL Analysis Market Research Report please visit:
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