Australia Group, BA, BIS, CBSS, CE, EAPC, EBRD, EIB, EU, FAO, IAEA,
IBRD, ICAO, ICCt, ICRM, IDA, IFC, IFRCS, IHO, ILO, IMF, IMO, IMSO,
Interpol, IOC, IOM, IPU, ISO (correspondent), ITU, ITUC, MIGA, NATO,
NIB, NSG, OAS (observer), OIF (observer), OPCW, OSCE, PCA, Schengen
Convention, UN, UNCTAD, UNESCO, UNWTO, UPU, WCO, WEU (associate
partner), WFTU, WHO, WIPO, WMO, WTO
Diplomatic representation in the US:
chief of mission: Ambassador Andrejs PILDEGOVICS chancery: 2306 Massachusetts Ave. NW, Washington, DC 20008 telephone: [1] (202) 328-2840 FAX: [1] (202) 328-2860
Diplomatic representation from the US:
chief of mission: Ambassador Charles LARSON Jr. embassy: 7 Raina Boulevard, Riga LV-1510 mailing address: American Embassy Riga, PSC 78, Box Riga, APO AE 09723 telephone: [371] 670-36200 FAX: [371] 678-20047
Flag description:
three horizontal bands of maroon (top), white (half-width), and maroon
Economy
Latvia
Economy - 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.