Economic Overview
Latvia's economy experienced gdp growth of more than 10% per year during 2006-07. 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. eu membership, a top foreign policy goal, came in may 2004. the current account deficit - more than 22% of gdp in 2007 - and inflation - at nearly 10% per year - remain major concerns.
Environmental Issues
Latvia's environment has benefited from a shift to service industries after the country regained independence; the main environmental priorities are improvement of drinking water quality and sewage system, household, and hazardous waste management, as well as reduction of air pollution; in 2001, latvia closed the eu accession negotiation chapter on environment committing to full enforcement of eu environmental directives by 2010
Government Type
Parliamentary democracy
Population
2,245,423 (july 2008 est.)
Location
Eastern europe, bordering the baltic sea, between estonia and lithuania
Area
Total: 64,589 sq km
land: 63,589 sq km
water: 1,000 sq km
Slightly larger than west virginia
Country Aliases
Conventional long form: republic of latvia
conventional short form: latvia
local long form: latvijas republika
local short form: latvija
former: latvian soviet socialist republic
Capital
Name: riga
geographic coordinates: 56 57 n, 24 06 e
time difference: utc+2 (7 hours ahead of washington, dc during standard time)
daylight saving time: +1hr, begins last sunday in march; ends last sunday in october
Military Service
18 years of age for voluntary military service; conscription abolished january 2007; under current law, every citizen is entitled to serve in the armed forces for life (2006)
International Disputes
Russia refuses to sign the 1997 boundary treaty due to latvian insistence on a unilateral clarificatory declaration referencing soviet occupation of latvia and territorial losses; russia demands better latvian treatment of ethnic russians in latvia; as of january 2007, ground demarcation of the boundary with belarus was complete and mapped with final ratification documentation in preparation; the latvian parliament has not ratified its 1998 maritime boundary treaty with lithuania, primarily due to concerns over oil exploration rights; as a member state that forms part of the eu's external border, latvia has implemented the strict schengen border rules with russia
Sources: Central Intelligence Agency (CIA)
