nternational organization participation:
Australia Group, BIS, CBSS, CE, EAPC, EBRD, EIB, EU (new member),
FAO, IAEA, IBRD, ICAO, ICCt, ICFTU, ICRM, IDA, IFC, IFRCS, ILO, IMF,
IMO, Interpol, IOC, IOM, ISO (correspondent), ITU, MIGA, NIB, NSG,
OAS (observer), OPCW, OSCE, PCA, PFP, UN, UNCTAD, UNESCO, UPU, WCO,
WEU (member affiliate), WHO, WIPO, WMO, WTO

Diplomatic representation in the US:
chief of mission: Ambassador Maris RIEKSTINS
FAX: [1] (202) 726-6785
telephone: [1] (202) 726-8213, 8214
chancery: 4325 17th Street NW, Washington, DC 20011

Diplomatic representation from the US:
chief of mission: Ambassador Catherine Todd-Bailey
embassy: 7 Raina Boulevard, Riga LV-1510
mailing address: American Embassy Riga, PSC 78, Box Riga, APO AE
09723
telephone: [371] 703-6200
FAX: [371] 782-0047

Flag description:
three horizontal bands of maroon (top), white (half-width), and
maroon

Economy Latvia

Economy - overview:
Latvia's transitional economy recovered from the 1998 Russian
financial crisis, largely due to the SKELE government's budget
stringency and a gradual reorientation of exports toward EU
countries, lessening Latvia's trade dependency on Russia. The
majority of companies, banks, and real estate have been privatized,
although the state still holds sizable stakes in a few large
enterprises. Latvia officially joined the World Trade Organization
in February 1999. Preparing for EU membership continues as a top
foreign policy goal. The current account and internal government
deficits remain major concerns, but the government's efforts to
increase efficiency in revenue collection may lessen the budget
deficit.

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 es