Diplomatic representation in the US: chief of mission: Ambassador Aivis RONIS chancery: 4325 17th Street NW, Washington, DC 20011 telephone: (202) 726-8213, 8214 FAX: (202) 726-6785
Diplomatic representation from the US: chief of mission: Ambassador James H. HOLMES embassy: Raina Boulevard 7, LV-1510, Riga mailing address: American Embassy Riga, PSC 78, Box Riga, APO AE 09723 telephone: 721-0005 FAX: 782-0047
Flag description: three horizontal bands of maroon (top), white (half-width), and maroon
@Latvia:Economy
Economy - overview: In 1999 Latvia, a transitional economy, experienced zero GDP growth as it continued to feel the impact of the August 1998 Russian financial crisis. Latvia officially joined the World Trade Organization (WTrO) in February 1999 - the first Baltic state to join - band was invited at the Helsinki EU Summit in December 1999 to begin accession talks in early 2000. Unemployment reached 9.6% in 1999, up from 9.2% in 1998 and 6.7% in 1997. Privatization of large state-owned utilities, especially the energy sector, faced more delays in 1999, but is expected to accelerate in the next two years. Latvia projects 3.5% GDP growth, 3% inflation, and a 2% fiscal deficit in 2000. Preparing for EU membership by 2003 remains a top foreign policy priority.
GDP: purchasing power parity - $9.8 billion (1999 est.)
GDP - real growth rate: 0% (1999 est.)
GDP - per capita: purchasing power parity - $4,200 (1999 est.)
GDP - composition by sector: agriculture: 8% industry: 29% services: 63% (1998)
Population below poverty line: NA%