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   Market (2002)
Latvia Economy
GDP:
purchasing power parity - $23.9 billion (2003 est.)
GDP - real growth rate:
7.4% (2003 est.)
GDP - per capita:
purchasing power parity - $10,200 (2003 est.)
GDP - composition by sector:
agriculture: 4.5%
industry: 24.5%
services: 70.9% (2003)
Investment (gross fixed):
27.1% of GDP (2003)
Population below poverty line:
NA
Household income or consumption by percentage share:
lowest 10%: 2.9%
highest 10%: 25.9% (1998)
Distribution of family income - Gini index:
32 (1999)
Inflation rate (consumer prices):
2.9% (2003 est.)
Labor force:
1.18 million (2003 est.)
Labor force - by occupation:
agriculture 15%, industry 25%, services 60% (2000 est.)
Unemployment rate:
8.6% (2003 est.)
Budget:
revenues: $3.691 billion
expenditures: $3.871 billion, including capital expenditures of NA (2003 est.)
Public debt:
14.4% of GDP (2003)
Industries:
buses, vans, street and railroad cars, synthetic fibers, agricultural machinery, fertilizers, washing machines, radios, electronics, pharmaceuticals, processed foods, textiles; note - dependent on imports for energy and raw materials
Industrial production growth rate:
8% (2003 est.)
Electricity - production:
4.365 billion kWh (2001)
Electricity - production by source:
fossil fuel: 29.1%
hydro: 70.9%
other: 0% (2001)
nuclear: 0%
Electricity - consumption:
6.046 billion kWh (2001)
Electricity - exports:
703 million kWh (2001)
Electricity - imports:
2.69 billion kWh (2001)
Oil - production:
0 bbl/day (2001 est.)
Oil - consumption:
44,000 bbl/day (2001 est.)
Oil - exports:
NA (2001)
Oil - imports:
NA (2001)
Natural gas - production:
0 cu m (2001 est.)
Natural gas - consumption:
1.7 billion cu m (2001 est.)
Natural gas - exports:
0 cu m (2001 est.)
Natural gas - imports:
1.7 billion cu m (2001 est.)
Agriculture - products:
grain, sugar beets, potatoes, vegetables; beef, pork, milk, eggs; fish
Current account balance:
$-955.9 million (2003)
Exports:
$3 billion f.o.b. (2003 est.)
Exports - commodities:
wood and wood products, machinery and equipment, metals, textiles, foodstuffs
Exports - partners:
UK 20.5%, Germany 12.2%, Sweden 11.6%, US 10%, Estonia 4.7%, Russia 4.4%, Denmark 4.3% (2003 est.)
Imports:
$4.921 billion f.o.b. (2003 est.)
Imports - commodities:
machinery and equipment, chemicals, fuels, vehicles
Imports - partners:
Germany 16%, Russia 14.3%, Lithuania 11%, Estonia 6.7%, Finland 5.7%, Sweden 5.5%, Italy 4.9% (2003 est.)
Reserves of foreign exchange & gold:
$1.535 billion (2003)
Debt - external:
$6.793 billion (2003 est.)
Economic aid - recipient:
$96.2 million (1995)
Currency code:
LVL
Exchange rates:
lati per US dollar - 0.5715 (2003), 0.6182 (2002), 0.6279 (2001), 0.6065 (2000), 0.5852 (1999)
Fiscal year:
calendar year
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